International Business Machines Co. (NYSE:IBM) Shares Sold by High Net Worth Advisory Group LLC

High Net Worth Advisory Group LLC trimmed its holdings in International Business Machines Co. (NYSE:IBM) by 2.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,394 shares of the technology company’s stock after selling 125 shares during the quarter. High Net Worth Advisory Group LLC’s holdings in International Business Machines were worth $971,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. GLOBALT Investments LLC GA acquired a new position in shares of International Business Machines during the 4th quarter valued at about $202,000. Beacon Financial Group boosted its holdings in International Business Machines by 7.1% in the 4th quarter. Beacon Financial Group now owns 1,802 shares of the technology company’s stock valued at $295,000 after purchasing an additional 120 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of International Business Machines by 0.8% in 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 buying an additional 58 shares during the period. Syon Capital LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth approximately $220,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of International Business Machines during the 4th quarter valued at approximately $143,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

Shares of IBM opened at $233.26 on Monday. The stock has a 50 day moving average price of $207.67 and a 200 day moving average price of $187.62. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $235.83. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The company has a market capitalization of $214.27 billion, a price-to-earnings ratio of 26.42, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The firm had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.18 EPS. Research analysts predict that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.86%. International Business Machines’s payout ratio is 75.65%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IBM. Royal Bank of Canada lifted their target price on International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday. Bernstein Bank upped their target price on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. BMO Capital Markets lifted their price target on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. UBS Group upped their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Finally, Evercore ISI lifted their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and an average price target of $198.41.

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.