Avestar Capital LLC Cuts Stock Holdings in International Business Machines Co. (NYSE:IBM)

Avestar Capital LLC cut its stake in International Business Machines Co. (NYSE:IBM) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,604 shares of the technology company’s stock after selling 65 shares during the quarter. Avestar Capital LLC’s holdings in International Business Machines were worth $1,018,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. FMR LLC increased its position in shares of International Business Machines by 6.0% during the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after purchasing an additional 294,276 shares in the last quarter. Patton Albertson Miller Group LLC lifted its stake in International Business Machines by 4.3% during the 3rd quarter. Patton Albertson Miller Group LLC now owns 26,337 shares of the technology company’s stock valued at $5,823,000 after acquiring an additional 1,087 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in International Business Machines by 1.0% in the third quarter. The Manufacturers Life Insurance Company now owns 585,188 shares of the technology company’s stock valued at $129,373,000 after purchasing an additional 5,540 shares during the last quarter. Longfellow Investment Management Co. LLC boosted its stake in shares of International Business Machines by 0.6% in the third quarter. Longfellow Investment Management Co. LLC now owns 9,208 shares of the technology company’s stock worth $2,036,000 after buying an additional 55 shares during the last quarter. Finally, Diversified LLC grew its stake in shares of International Business Machines by 37.9% during the 3rd quarter. Diversified LLC now owns 5,767 shares of the technology company’s stock worth $1,275,000 after purchasing an additional 1,586 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

IBM stock opened at $228.85 on Wednesday. The business’s 50-day moving average is $219.93 and its two-hundred day moving average is $196.43. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The firm has a market capitalization of $211.61 billion, a P/E ratio of 33.31, a P/E/G ratio of 5.08 and a beta of 0.71. International Business Machines Co. has a 1 year low of $154.75 and a 1 year high of $237.37.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share 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 firm had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter last year, the company earned $2.20 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. Analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.92%. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was 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 in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. DZ Bank cut 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 upped their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Bernstein Bank increased their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Jefferies Financial Group lifted their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. Three 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. According to data from MarketBeat.com, International Business Machines has an average rating of “Hold” and an average price target of $208.12.

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.