Allworth Financial LP Sells 118 Shares of International Business Machines Co. (NYSE:IBM)

Allworth Financial LP lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 0.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,082 shares of the technology company’s stock after selling 118 shares during the period. Allworth Financial LP’s holdings in International Business Machines were worth $9,304,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC acquired a new position in International Business Machines in the second quarter valued at about $7,160,000. Smith Thornton Advisors LLC bought a new stake in shares of International Business Machines during the 2nd quarter worth approximately $702,000. Retirement Planning Group LLC acquired a new stake in shares of International Business Machines during the 3rd quarter worth approximately $618,000. GAMMA Investing LLC increased its stake in International Business Machines by 42.4% in the second quarter. GAMMA Investing LLC now owns 9,370 shares of the technology company’s stock valued at $1,621,000 after acquiring an additional 2,788 shares during the last quarter. Finally, Anderson Hoagland & Co. acquired a new position in International Business Machines during the third quarter valued at approximately $4,050,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of research analyst reports. 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 report on Wednesday, October 16th. BMO Capital Markets boosted their target price on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday. Jefferies Financial Group raised their price target 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. Evercore ISI upped their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Finally, UBS Group raised their target price on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, International Business Machines has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Price Performance

International Business Machines stock opened at $214.67 on Friday. The stock’s 50 day moving average is $215.58 and its 200 day moving average is $190.43. International Business Machines Co. has a one year low of $141.58 and a one year high of $237.37. The firm has a market cap of $197.74 billion, a P/E ratio of 23.67, a P/E/G ratio of 4.84 and a beta of 0.70. 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 (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 analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the previous year, the company earned $2.20 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, research analysts expect that International Business Machines Co. will post 10.13 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio is 73.65%.

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.