First City Capital Management Inc. Trims Stock Holdings in International Business Machines Co. (NYSE:IBM)

First City Capital Management Inc. reduced its stake in International Business Machines Co. (NYSE:IBM) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,973 shares of the technology company’s stock after selling 114 shares during the period. International Business Machines makes up approximately 1.1% of First City Capital Management Inc.’s portfolio, making the stock its 20th biggest position. First City Capital Management Inc.’s holdings in International Business Machines were worth $2,205,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hazlett Burt & Watson Inc. increased its stake in International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares during the period. Hara Capital LLC purchased a new stake in International Business Machines during the third quarter worth about $29,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in International Business Machines during the second quarter worth about $36,000. Wolff Wiese Magana LLC increased its stake in 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 period. Finally, Capital Performance Advisors LLP purchased a new stake in International Business Machines during the third quarter worth about $43,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Business Machines

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

International Business Machines Stock Performance

Shares of IBM opened at $208.09 on Tuesday. The stock has a 50 day moving average price of $218.88 and a 200 day moving average price of $194.18. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The company has a market capitalization of $192.41 billion, a price-to-earnings ratio of 30.29, a price-to-earnings-growth ratio of 4.60 and a beta of 0.71. International Business Machines Co. has a 52-week low of $152.35 and a 52-week high of $237.37.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the previous year, the business earned $2.20 earnings per share. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. Research analysts predict that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed 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. This represents a $6.68 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Evercore ISI boosted 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 note on Wednesday, September 11th. Stifel Nicolaus boosted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. UBS Group boosted their price objective on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. BMO Capital Markets boosted their price objective on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $208.12.

International Business Machines Company 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.