International Business Machines Co. (NYSE:IBM) Shares Sold by Sky Investment Group LLC

Sky Investment Group LLC trimmed its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,734 shares of the technology company’s stock after selling 220 shares during the period. Sky Investment Group LLC’s holdings in International Business Machines were worth $3,700,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. AdvisorNet Financial Inc lifted its holdings in shares of International Business Machines by 27.9% in the first quarter. AdvisorNet Financial Inc now owns 5,997 shares of the technology company’s stock valued at $1,145,000 after purchasing an additional 1,309 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in International Business Machines during the 1st quarter worth about $3,026,000. Mechanics Bank Trust Department purchased a new position in International Business Machines during the 1st quarter valued at about $469,000. West Coast Financial LLC purchased a new position in International Business Machines during the 1st quarter valued at about $239,000. Finally, Evanson Asset Management LLC lifted its position in shares of International Business Machines by 14.2% in the first quarter. Evanson Asset Management LLC now owns 2,092 shares of the technology company’s stock worth $399,000 after purchasing an additional 260 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

IBM traded down $0.39 during midday trading on Tuesday, reaching $231.36. The company’s stock had a trading volume of 644,481 shares, compared to its average volume of 4,171,092. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The company has a fifty day simple moving average of $213.04 and a 200 day simple moving average of $189.45. The stock has a market cap of $212.53 billion, a P/E ratio of 26.18, a PEG ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $237.37.

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

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. DZ Bank cut 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 report on Wednesday, October 2nd. BMO Capital Markets increased their price objective on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Finally, The Goldman Sachs Group lifted their price target on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus price target of $205.71.

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.