Principal Street Partners LLC Lowers Position in International Business Machines Co. (NYSE:IBM)

Principal Street Partners LLC decreased its stake in International Business Machines Co. (NYSE:IBM) by 17.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,664 shares of the technology company’s stock after selling 6,583 shares during the quarter. International Business Machines makes up 1.1% of Principal Street Partners LLC’s portfolio, making the stock its 20th biggest holding. Principal Street Partners LLC’s holdings in International Business Machines were worth $6,650,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. increased its stake in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after buying an additional 116 shares in the last quarter. Hara Capital LLC bought a new position in shares of International Business Machines in the third quarter worth about $29,000. Capital Performance Advisors LLP purchased a new stake in shares of International Business Machines during the third quarter worth about $43,000. Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines during the 2nd quarter valued at approximately $36,000. Finally, Wolff Wiese Magana LLC lifted its holdings in International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Down 0.0 %

Shares of NYSE IBM opened at $226.07 on Tuesday. International Business Machines Co. has a 1 year low of $154.75 and a 1 year high of $237.37. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The company has a market cap of $209.04 billion, a P/E ratio of 32.93, a PEG ratio of 5.01 and a beta of 0.71. The firm has a 50-day simple moving average of $219.63 and a two-hundred day simple moving average of $196.00.

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

International Business Machines Dividend Announcement

The business also recently announced 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. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 2.95%. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. Bernstein Bank boosted their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. BMO Capital Markets raised their price objective on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines 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.