Chartwell Investment Partners LLC Decreases Holdings in International Business Machines Co. (NYSE:IBM)

Chartwell Investment Partners LLC lowered its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,928 shares of the technology company’s stock after selling 300 shares during the period. Chartwell Investment Partners LLC’s holdings in International Business Machines were worth $5,954,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Hazlett Burt & Watson Inc. boosted its stake in shares of International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares during the last quarter. Hara Capital LLC acquired a new stake in International Business Machines during the 3rd quarter worth $29,000. ESL Trust Services LLC purchased a new stake in shares of International Business Machines during the first quarter worth $28,000. Capital Performance Advisors LLP purchased a new stake in shares of International Business Machines during the third quarter worth $43,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Business Machines in the second quarter worth about $36,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE:IBM opened at $213.62 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a fifty-two week low of $147.35 and a fifty-two week high of $237.37. The firm’s fifty day simple moving average is $218.02 and its 200-day simple moving average is $192.36. The stock has a market cap of $197.52 billion, a PE ratio of 31.09, a price-to-earnings-growth ratio of 4.80 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $2.20 earnings per share. Analysts expect that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. BMO Capital Markets increased their price target on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Jefferies Financial Group lifted their price target on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Stifel Nicolaus raised their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Bank of America raised their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Bernstein Bank raised their price target on 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 research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, International Business Machines currently has an average rating of “Hold” and an average target price of $208.12.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is owned by corporate insiders.

About International Business Machines

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.