High Falls Advisors Inc Sells 187 Shares of International Business Machines Co. (NYSE:IBM)

High Falls Advisors Inc trimmed its position in International Business Machines Co. (NYSE:IBM) by 14.7% during the third quarter, HoldingsChannel.com reports. The fund owned 1,083 shares of the technology company’s stock after selling 187 shares during the period. High Falls Advisors Inc’s holdings in International Business Machines were worth $239,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. raised its holdings in shares of International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after acquiring an additional 166 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in International Business Machines during the second quarter worth $7,160,000. Philip James Wealth Mangement LLC acquired a new position in shares of International Business Machines during the 3rd quarter worth about $5,117,000. Aljian Capital Management LLC acquired a new stake in International Business Machines in the 3rd quarter valued at about $611,000. Finally, Focused Wealth Management Inc raised its stake in International Business Machines by 52.2% in the third quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock valued at $2,504,000 after buying an additional 3,887 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Price Performance

Shares of IBM opened at $230.02 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. The stock has a market cap of $212.69 billion, a PE ratio of 33.48, a PEG ratio of 5.34 and a beta of 0.73. International Business Machines Co. has a 12-month low of $157.88 and a 12-month high of $239.35. The business has a 50-day simple moving average of $221.92 and a two-hundred day simple moving average of $200.27.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating 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 company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the prior year, the firm posted $2.20 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. Analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.90%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Insider Buying and Selling

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 transaction of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IBM. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Stifel Nicolaus lifted their target price 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. Morgan Stanley dropped their target price on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. UBS Group upped their price target on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Finally, DZ Bank cut shares of 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. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, International Business Machines has an average rating of “Hold” and a consensus target price 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.