Traphagen Investment Advisors LLC Cuts Position in International Business Machines Co. (NYSE:IBM)

Traphagen Investment Advisors LLC cut its position in International Business Machines Co. (NYSE:IBM) by 4.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,176 shares of the technology company’s stock after selling 153 shares during the quarter. Traphagen Investment Advisors LLC’s holdings in International Business Machines were worth $702,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Ellenbecker Investment Group lifted its position in shares of International Business Machines by 2.3% during the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after purchasing an additional 46 shares in the last quarter. Castleview Partners LLC increased its stake in International Business Machines by 3.7% during the 3rd quarter. Castleview Partners LLC now owns 1,522 shares of the technology company’s stock worth $336,000 after buying an additional 55 shares during the period. Armbruster Capital Management Inc. lifted its holdings in International Business Machines by 2.3% during the 2nd quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock worth $432,000 after buying an additional 56 shares in the last quarter. Aspect Partners LLC boosted its position in International Business Machines by 11.2% in the 3rd quarter. Aspect Partners LLC now owns 554 shares of the technology company’s stock valued at $122,000 after buying an additional 56 shares during the period. Finally, Plimoth Trust Co. LLC grew its stake in shares of International Business Machines by 0.3% in the third quarter. Plimoth Trust Co. LLC now owns 16,782 shares of the technology company’s stock worth $3,710,000 after acquiring an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on IBM shares. Stifel Nicolaus lifted 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. Bernstein Bank lifted their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research note on Wednesday, October 2nd. Evercore ISI lifted their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Finally, UBS Group increased their price objective 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 analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $205.71.

International Business Machines Stock Performance

Shares of IBM stock traded down $0.54 during mid-day trading on Tuesday, hitting $231.21. 546,019 shares of the stock were exchanged, compared to its average volume of 4,170,609. The stock’s fifty day simple moving average is $213.04 and its two-hundred day simple moving average is $189.45. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $237.37. The stock has a market capitalization of $212.39 billion, a price-to-earnings ratio of 26.18, a P/E/G ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released 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. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm 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 business posted $2.18 EPS. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts forecast that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 2.89%. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

International Business Machines 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.