International Business Machines Co. (NYSE:IBM) Shares Sold by PSI Advisors LLC

PSI Advisors LLC reduced its stake in International Business Machines Co. (NYSE:IBM) by 2.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,951 shares of the technology company’s stock after selling 59 shares during the period. PSI Advisors LLC’s holdings in International Business Machines were worth $431,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Susquehanna Fundamental Investments LLC purchased a new stake in shares of International Business Machines during the second quarter worth approximately $7,160,000. Hodges Capital Management Inc. increased its stake in shares of International Business Machines by 60.8% during the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock worth $3,921,000 after buying an additional 7,768 shares during the period. Burns J W & Co. Inc. NY increased its stake in shares of International Business Machines by 10.8% during the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock worth $491,000 after buying an additional 250 shares during the period. Smith Thornton Advisors LLC purchased a new stake in shares of International Business Machines during the second quarter worth approximately $702,000. Finally, Retirement Planning Group LLC purchased a new stake in shares of International Business Machines during the third quarter worth approximately $618,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of research analyst reports. Bernstein Bank upped 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. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Jefferies Financial Group upped their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday. Evercore ISI upped their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Finally, Royal Bank of Canada upped their price target on International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $208.65.

International Business Machines Price Performance

Shares of NYSE IBM opened at $216.82 on Thursday. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The stock has a fifty day moving average price of $214.67 and a 200 day moving average price of $190.05. International Business Machines Co. has a 1-year low of $136.33 and a 1-year high of $237.37. The company has a market cap of $199.17 billion, a PE ratio of 26.36, a P/E/G ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.05. The firm had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.20 earnings per share. Sell-side 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 disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.08%. The ex-dividend date was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

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.