International Business Machines Co. (NYSE:IBM) Shares Sold by Naviter Wealth LLC

Naviter Wealth LLC cut its position in International Business Machines Co. (NYSE:IBM) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,977 shares of the technology company’s stock after selling 149 shares during the period. Naviter Wealth LLC’s holdings in International Business Machines were worth $2,206,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC acquired a new position in International Business Machines in the second quarter valued at $7,160,000. Hodges Capital Management Inc. increased its position in International Business Machines by 60.8% in the 1st quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock valued at $3,921,000 after acquiring an additional 7,768 shares during the period. Burns J W & Co. Inc. NY grew its stake in shares of International Business Machines by 10.8% in the 1st quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock valued at $491,000 after purchasing an additional 250 shares during the last quarter. Smith Thornton Advisors LLC purchased a new position in International Business Machines in the 2nd quarter valued at $702,000. Finally, Retirement Planning Group LLC purchased a new position in International Business Machines during the 3rd quarter worth $618,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Bank of America boosted their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. The Goldman Sachs Group upped their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research report on Wednesday, October 2nd. Finally, Bernstein Bank raised their price target on 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. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $200.82.

International Business Machines Stock Performance

Shares of IBM traded down $1.41 during mid-day trading on Thursday, hitting $232.26. The stock had a trading volume of 337,574 shares, compared to its average volume of 4,169,688. The company’s fifty day simple moving average is $210.57 and its two-hundred day simple moving average is $188.54. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $237.37. The company has a market cap of $213.35 billion, a PE ratio of 26.46, a PEG ratio of 5.21 and a beta of 0.70. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The company had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $2.18 EPS. On average, equities analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 2.88%. International Business Machines’s payout ratio is currently 75.65%.

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.