Insight 2811 Inc. Decreases Stake in International Business Machines Co. (NYSE:IBM)

Insight 2811 Inc. cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 2.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,454 shares of the technology company’s stock after selling 100 shares during the quarter. Insight 2811 Inc.’s holdings in International Business Machines were worth $597,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Arden Trust Co increased its position in shares of International Business Machines by 2.8% during the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after purchasing an additional 54 shares during the last quarter. Armbruster Capital Management Inc. increased its holdings in International Business Machines by 2.3% during the second quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock valued at $432,000 after buying an additional 56 shares during the last quarter. CVA Family Office LLC boosted its stake in shares of International Business Machines by 3.3% during the 2nd quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock worth $311,000 after acquiring an additional 57 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in shares of International Business Machines by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after acquiring an additional 58 shares during the period. Finally, Peddock Capital Advisors LLC increased its stake in shares of International Business Machines by 0.6% in the 2nd quarter. Peddock Capital Advisors LLC now owns 10,040 shares of the technology company’s stock worth $1,736,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM stock traded down $1.85 during trading hours on Friday, hitting $200.74. The stock had a trading volume of 3,304,491 shares, compared to its average volume of 4,223,954. The stock’s 50-day moving average price is $189.52 and its two-hundred day moving average price is $182.50. International Business Machines Co. has a one year low of $135.87 and a one year high of $205.95. The stock has a market capitalization of $184.40 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 4.50 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the firm earned $2.18 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities analysts forecast that International Business Machines Co. will post 10.09 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be paid a $1.67 dividend. The ex-dividend date is Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.33%. International Business Machines’s payout ratio is currently 75.65%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Jefferies Financial Group boosted their price objective on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. The Goldman Sachs Group assumed coverage on shares of International Business Machines in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 target price on the stock. Royal Bank of Canada upped their price target on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $185.93.

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.