International Business Machines Co. (NYSE:IBM) Stock Position Lessened by Corrado Advisors LLC

Corrado Advisors LLC lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 4.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,854 shares of the technology company’s stock after selling 619 shares during the period. International Business Machines makes up about 1.8% of Corrado Advisors LLC’s portfolio, making the stock its 7th biggest position. Corrado Advisors LLC’s holdings in International Business Machines were worth $2,842,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of IBM. FPC Investment Advisory Inc. purchased a new stake in International Business Machines during the 1st quarter worth approximately $26,000. ESL Trust Services LLC acquired a new stake in International Business Machines during the 1st quarter valued at approximately $28,000. Hazlett Burt & Watson Inc. lifted its stake in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares during the period. Hara Capital LLC acquired a new stake in International Business Machines during the 3rd quarter valued at approximately $29,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines during the 2nd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE:IBM opened at $213.66 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The company has a fifty day moving average of $218.02 and a two-hundred day moving average of $192.24. The stock has a market capitalization of $197.56 billion, a PE ratio of 31.10, a P/E/G ratio of 4.80 and a beta of 0.71. International Business Machines Co. has a fifty-two week low of $145.28 and a fifty-two week high of $237.37.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the prior year, the business posted $2.20 earnings per share. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, research analysts forecast that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on IBM shares. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. The Goldman Sachs Group lifted their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. UBS Group lifted their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Stifel Nicolaus boosted their target price on shares of 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, Evercore ISI boosted their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, International Business Machines currently 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.