Fisher Asset Management LLC Decreases Stake in International Business Machines Co. (NYSE:IBM)

Fisher Asset Management LLC reduced its position in International Business Machines Co. (NYSE:IBM) by 12.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 15,420 shares of the technology company’s stock after selling 2,197 shares during the period. Fisher Asset Management LLC’s holdings in International Business Machines were worth $3,409,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. Hazlett Burt & Watson Inc. boosted its position in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after buying an additional 116 shares during the last quarter. Hara Capital LLC purchased a new position in International Business Machines in the 3rd quarter valued at about $29,000. Oliver Lagore Vanvalin Investment Group purchased a new position in International Business Machines in the 2nd quarter valued at about $36,000. Wolff Wiese Magana LLC lifted its position in shares of International Business Machines by 37.0% during the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of International Business Machines during the third quarter worth about $43,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is owned by company insiders.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $226.92 on Friday. The firm’s 50 day moving average is $220.43 and its two-hundred day moving average is $196.86. International Business Machines Co. has a 52 week low of $154.86 and a 52 week high of $237.37. The firm has a market capitalization of $209.82 billion, a P/E ratio of 33.03, a PEG ratio of 5.08 and a beta of 0.71. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same quarter last year, the business earned $2.20 earnings per share. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. Analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.94%. International Business Machines’s payout ratio is currently 97.23%.

Analyst Upgrades and Downgrades

IBM has been the topic of several research analyst reports. Evercore ISI increased their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Morgan Stanley reduced their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Jefferies Financial Group increased their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research report on Wednesday, October 2nd. Finally, Bernstein Bank increased their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.