Foundry Partners LLC Sells 11,089 Shares of International Business Machines Co. (NYSE:IBM)

Foundry Partners LLC lowered its holdings in shares of International Business Machines Co. (NYSE:IBM) by 8.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 121,810 shares of the technology company’s stock after selling 11,089 shares during the period. International Business Machines comprises about 1.3% of Foundry Partners LLC’s investment portfolio, making the stock its 15th biggest position. Foundry Partners LLC’s holdings in International Business Machines were worth $26,930,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. increased its holdings in shares of 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 worth $29,000 after buying an additional 116 shares during the period. Hara Capital LLC bought a new stake in International Business Machines in the third quarter valued at approximately $29,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of International Business Machines in the second quarter worth approximately $36,000. Wolff Wiese Magana LLC increased its stake in shares of International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after buying an additional 60 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in International Business Machines during the 3rd quarter valued at $43,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction 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 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 trade represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on IBM shares. DZ Bank downgraded 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. Bank of America upped their price target on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. UBS Group lifted their price objective on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. BMO Capital Markets upped their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Finally, Morgan Stanley cut their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. 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 stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Price Performance

IBM stock opened at $214.61 on Thursday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm has a market capitalization of $198.44 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 4.72 and a beta of 0.71. The firm has a 50 day moving average price of $219.07 and a 200-day moving average price of $194.64. International Business Machines Co. has a 52-week low of $153.51 and a 52-week high of $237.37.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 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 business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the previous year, the company posted $2.20 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities research analysts forecast that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid 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 yield of 3.11%. International Business Machines’s dividend payout ratio is currently 97.23%.

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.