Foundry Partners LLC Reduces Stock Position in International Business Machines Co. (NYSE:IBM)

Foundry Partners LLC cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 8.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 121,810 shares of the technology company’s stock after selling 11,089 shares during the period. International Business Machines comprises approximately 1.3% of Foundry Partners LLC’s holdings, making the stock its 15th largest position. Foundry Partners LLC’s holdings in International Business Machines were worth $26,930,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Hazlett Burt & Watson Inc. lifted its holdings in 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 valued at $29,000 after acquiring an additional 116 shares during the period. Hara Capital LLC bought a new position in shares of International Business Machines in the 3rd quarter worth approximately $29,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Business Machines in the second quarter worth approximately $36,000. Wolff Wiese Magana LLC grew its position 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 valued at $38,000 after buying an additional 60 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in International Business Machines during the third quarter valued at approximately $43,000. 58.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on IBM shares. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research note on Wednesday, October 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. Evercore ISI increased their target price on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Finally, Bernstein Bank raised their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company 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 issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Performance

NYSE IBM opened at $214.61 on Thursday. The stock has a market capitalization of $198.44 billion, a PE ratio of 31.24, a P/E/G ratio of 4.72 and a beta of 0.71. International Business Machines Co. has a 1-year low of $153.51 and a 1-year high of $237.37. The business has a 50 day simple moving average of $219.07 and a two-hundred day simple moving average of $194.64. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

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 analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 EPS. On average, research analysts predict that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.11%. International Business Machines’s payout ratio is 97.23%.

Insider Transactions at International Business Machines

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

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.