Diversify Advisory Services LLC Has $3.50 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Diversify Advisory Services LLC lessened its holdings in International Business Machines Co. (NYSE:IBM) by 19.4% during the third quarter, HoldingsChannel.com reports. The fund owned 15,089 shares of the technology company’s stock after selling 3,637 shares during the period. Diversify Advisory Services LLC’s holdings in International Business Machines were worth $3,504,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of IBM. Vanguard Group Inc. boosted its stake in shares of International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after purchasing an additional 5,546,855 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of International Business Machines by 20,324.5% during the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after acquiring an additional 2,702,340 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in International Business Machines by 151.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after buying an additional 2,118,165 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of International Business Machines by 306.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after buying an additional 1,056,759 shares during the period. Finally, Strategic Financial Concepts LLC lifted its stake in shares of International Business Machines by 12,282.2% in the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock worth $817,000 after acquiring an additional 468,567 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of International Business Machines stock traded down $1.17 during trading hours on Tuesday, hitting $211.74. 219,064 shares of the company’s stock traded hands, compared to its average volume of 4,230,229. The stock has a market capitalization of $194.50 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 4.84 and a beta of 0.70. The company has a fifty day simple moving average of $215.94 and a 200-day simple moving average of $190.65. 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 Co. has a 12-month low of $142.58 and a 12-month high of $237.37.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.20 EPS. Equities research analysts anticipate that International Business Machines Co. will post 10.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group upped their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. BMO Capital Markets boosted their price target on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Stifel Nicolaus raised 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. Finally, UBS Group boosted their price objective on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $208.12.

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.