Clifford Swan Investment Counsel LLC Sells 4,306 Shares of International Business Machines Co. (NYSE:IBM)

Clifford Swan Investment Counsel LLC trimmed its holdings in International Business Machines Co. (NYSE:IBM – Get Rating) by 7.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,354 shares of the technology company’s stock after selling 4,306 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in International Business Machines were worth $6,577,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vestmark Advisory Solutions Inc. raised its holdings in shares of International Business Machines by 23.3% in the second quarter. Vestmark Advisory Solutions Inc. now owns 12,009 shares of the technology company’s stock valued at $1,695,000 after buying an additional 2,268 shares during the last quarter. Summit Financial Strategies Inc. increased its position in International Business Machines by 9.1% in the third quarter. Summit Financial Strategies Inc. now owns 1,850 shares of the technology company’s stock worth $220,000 after purchasing an additional 154 shares during the period. Allspring Global Investments Holdings LLC increased its position in International Business Machines by 115.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 285,974 shares of the technology company’s stock worth $33,975,000 after purchasing an additional 153,267 shares during the period. Sawtooth Solutions LLC increased its position in International Business Machines by 30.9% in the second quarter. Sawtooth Solutions LLC now owns 10,483 shares of the technology company’s stock worth $1,480,000 after purchasing an additional 2,477 shares during the period. Finally, SkyOak Wealth LLC increased its position in International Business Machines by 16.3% in the third quarter. SkyOak Wealth LLC now owns 9,703 shares of the technology company’s stock worth $1,153,000 after purchasing an additional 1,357 shares during the period. 55.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Morgan Stanley lowered International Business Machines from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $152.00 to $148.00 in a research report on Wednesday, January 18th. Credit Suisse Group lowered their price objective on International Business Machines from $158.00 to $155.00 and set an “outperform” rating for the company in a research report on Thursday, October 20th. Moffett Nathanson upgraded International Business Machines from an “underperform” rating to a “market perform” rating and set a $140.00 target price for the company in a research report on Thursday, January 19th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday, October 21st. Finally, UBS Group decreased their target price on International Business Machines from $112.00 to $111.00 and set a “sell” rating for the company in a research report on Thursday, October 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $142.30.

International Business Machines Stock Down 1.1 %

Shares of IBM traded down $1.62 on Wednesday, hitting $139.87. The company’s stock had a trading volume of 453,186 shares, compared to its average volume of 3,775,405. The company has a quick ratio of 0.89, a current ratio of 0.95 and a debt-to-equity ratio of 2.23. The firm’s fifty day moving average price is $144.62 and its 200-day moving average price is $135.50. International Business Machines Co. has a fifty-two week low of $115.54 and a fifty-two week high of $153.21. The firm has a market capitalization of $126.46 billion, a price-to-earnings ratio of 103.28, a P/E/G ratio of 2.66 and a beta of 0.89.

Insider Activity at International Business Machines

In related news, VP Bene Robert F. Del sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $148.36, for a total value of $445,080.00. Following the completion of the transaction, the vice president now directly owns 14,553 shares in the company, valued at approximately $2,159,083.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.04% of the stock is owned by insiders.

International Business Machines Profile

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International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.