International Business Machines Co. (NYSE:IBM) Stake Lessened by Empower Advisory Group LLC

Empower Advisory Group LLC cut its stake in International Business Machines Co. (NYSE:IBM) by 14.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,561 shares of the technology company’s stock after selling 1,275 shares during the period. Empower Advisory Group LLC’s holdings in International Business Machines were worth $1,672,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. ESL Trust Services LLC bought a new stake in International Business Machines during the first quarter worth approximately $28,000. Hazlett Burt & Watson Inc. boosted its holdings in International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after buying an additional 116 shares in the last quarter. Hara Capital LLC bought a new stake in International Business Machines during the third quarter worth approximately $29,000. Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines during the second quarter worth approximately $36,000. Finally, Wolff Wiese Magana LLC boosted its holdings in International Business Machines by 37.0% during the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after buying an additional 60 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Tuesday. Bernstein Bank lifted their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. BMO Capital Markets lifted their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Bank of America lifted their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $208.12.

Insider Buying and Selling

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.07% of the company’s stock.

International Business Machines Stock Up 0.0 %

IBM stock opened at $210.91 on Thursday. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 1 year low of $149.05 and a 1 year high of $237.37. The company has a fifty day simple moving average of $218.44 and a 200 day simple moving average of $192.98. The firm has a market cap of $195.02 billion, a PE ratio of 30.70, a PEG ratio of 4.74 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the previous year, the business earned $2.20 EPS. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. Sell-side analysts anticipate that International Business Machines Co. will post 10.11 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.17%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

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.