Mattern Wealth Management LLC Cuts Holdings in International Business Machines Co. (NYSE:IBM)

Mattern Wealth Management LLC cut its position in shares of International Business Machines Co. (NYSE:IBM) by 8.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,861 shares of the technology company’s stock after selling 182 shares during the quarter. Mattern Wealth Management LLC’s holdings in International Business Machines were worth $411,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of IBM. FPC Investment Advisory Inc. purchased a new position in International Business Machines in the first quarter valued at approximately $26,000. ESL Trust Services LLC purchased a new position in shares of International Business Machines in the 1st quarter valued at $28,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of International Business Machines during the 2nd quarter valued at $36,000. Wolff Wiese Magana LLC increased 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 valued at $38,000 after purchasing an additional 60 shares in the last quarter. Finally, Briaud Financial Planning Inc raised its position in International Business Machines by 54.3% in the second quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock valued at $49,000 after purchasing an additional 100 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on IBM. Stifel Nicolaus increased their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets lifted their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Morgan Stanley raised their price target on shares of International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada raised their target price on International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $205.71.

International Business Machines Stock Performance

IBM traded up $0.48 on Tuesday, hitting $232.23. 1,074,647 shares of the company’s stock were exchanged, compared to its average volume of 4,173,200. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The stock has a fifty day moving average of $213.04 and a two-hundred day moving average of $189.45. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $237.37. The firm has a market cap of $213.33 billion, a PE ratio of 26.18, a P/E/G ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was up 1.9% on a year-over-year basis. On average, research analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 2.88%. International Business Machines’s dividend payout ratio is currently 75.65%.

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.