Advisors Asset Management Inc. Sells 8,070 Shares of International Business Machines Co. (NYSE:IBM)

Advisors Asset Management Inc. cut its holdings in International Business Machines Co. (NYSE:IBM) by 3.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 236,628 shares of the technology company’s stock after selling 8,070 shares during the period. International Business Machines makes up approximately 1.0% of Advisors Asset Management Inc.’s portfolio, making the stock its 11th biggest position. Advisors Asset Management Inc.’s holdings in International Business Machines were worth $52,314,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in IBM. Howe & Rusling Inc. lifted its position in shares of International Business Machines by 2.8% during the 3rd quarter. Howe & Rusling Inc. now owns 3,233 shares of the technology company’s stock valued at $715,000 after acquiring an additional 88 shares during the period. Jennison Associates LLC raised its holdings in shares of International Business Machines by 11.5% during the third quarter. Jennison Associates LLC now owns 522,131 shares of the technology company’s stock valued at $115,433,000 after purchasing an additional 53,658 shares during the period. MWA Asset Management boosted its position in shares of International Business Machines by 2.3% during the 3rd quarter. MWA Asset Management now owns 2,745 shares of the technology company’s stock worth $607,000 after purchasing an additional 63 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of International Business Machines in the 3rd quarter valued at about $553,000. Finally, Thompson Davis & CO. Inc. bought a new stake in shares of International Business Machines during the third quarter valued at approximately $229,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM stock opened at $210.31 on Wednesday. The firm’s 50 day moving average is $218.98 and its 200 day moving average is $194.50. The stock has a market capitalization of $194.46 billion, a P/E ratio of 30.61, a PEG ratio of 4.60 and a beta of 0.71. International Business Machines Co. has a 12 month low of $152.35 and a 12 month high of $237.37. 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 posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the prior year, the business posted $2.20 earnings per share. The business’s quarterly revenue was up 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The business 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 dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on 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 directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

IBM has been the topic of several research reports. Stifel Nicolaus upped their price objective 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. UBS Group increased their price objective on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Evercore ISI increased their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Finally, Bernstein Bank lifted their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average target price 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.