Bard Financial Services Inc. Sells 18,470 Shares of International Business Machines Co. (NYSE:IBM)

Bard Financial Services Inc. decreased its holdings in International Business Machines Co. (NYSE:IBM) by 59.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,390 shares of the technology company’s stock after selling 18,470 shares during the quarter. Bard Financial Services Inc.’s holdings in International Business Machines were worth $2,739,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of IBM. Meeder Asset Management Inc. raised its position in shares of International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after acquiring an additional 166 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of International Business Machines during the second quarter worth $7,160,000. Philip James Wealth Mangement LLC bought a new stake in shares of International Business Machines during the third quarter worth $5,117,000. Aljian Capital Management LLC bought a new stake in shares of International Business Machines during the third quarter worth $611,000. Finally, Focused Wealth Management Inc raised its position in shares of International Business Machines by 52.2% during the third quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock worth $2,504,000 after acquiring an additional 3,887 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IBM shares. UBS Group boosted their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Bank of America boosted their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Stifel Nicolaus boosted their price target on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $208.12.

International Business Machines Stock Up 0.2 %

Shares of IBM opened at $232.15 on Wednesday. International Business Machines Co. has a 12 month low of $157.88 and a 12 month high of $239.35. The company has a market capitalization of $214.66 billion, a PE ratio of 33.74, a PEG ratio of 5.16 and a beta of 0.73. The stock’s 50-day moving average price is $221.92 and its two-hundred day moving average price is $200.27. 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 (NYSE:IBM) last released its earnings results 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 return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same period in the prior year, the company posted $2.20 earnings per share. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. On average, analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were paid a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 2.88%. International Business Machines’s payout ratio is 97.23%.

International Business Machines Company 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.