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

Argyle Capital Management Inc. trimmed its stake in International Business Machines Co. (NYSE:IBM) by 4.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,557 shares of the technology company’s stock after selling 1,050 shares during the period. International Business Machines makes up about 2.1% of Argyle Capital Management Inc.’s portfolio, making the stock its 9th biggest position. Argyle Capital Management Inc.’s holdings in International Business Machines were worth $5,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new position in International Business Machines during the second quarter valued at $7,160,000. Smith Thornton Advisors LLC bought a new position in International Business Machines during the 2nd quarter valued at about $702,000. Retirement Planning Group LLC purchased a new stake in International Business Machines in the 3rd quarter worth about $618,000. GAMMA Investing LLC lifted its stake in International Business Machines by 42.4% in the second quarter. GAMMA Investing LLC now owns 9,370 shares of the technology company’s stock worth $1,621,000 after purchasing an additional 2,788 shares during the last quarter. Finally, Anderson Hoagland & Co. purchased a new position in shares of International Business Machines during the third quarter valued at approximately $4,050,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

International Business Machines stock traded down $0.64 during trading hours on Tuesday, hitting $212.27. 927,172 shares of the stock traded hands, compared to its average volume of 4,233,618. The firm’s 50 day moving average price is $215.94 and its 200-day moving average price is $190.65. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The stock has a market capitalization of $194.99 billion, a price-to-earnings ratio of 24.02, a P/E/G ratio of 4.84 and a beta of 0.70. International Business Machines Co. has a 1 year low of $142.58 and a 1 year high of $237.37.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the prior year, the firm earned $2.20 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities analysts expect that International Business Machines Co. will post 10.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of research analyst reports. Jefferies Financial Group upped their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research note on Wednesday, October 2nd. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a report on Friday. Bank of America lifted their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average price target of $208.12.

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.