Financial Counselors Inc. Sells 912 Shares of International Business Machines Co. (NYSE:IBM)

Financial Counselors Inc. lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,270 shares of the technology company’s stock after selling 912 shares during the period. Financial Counselors Inc.’s holdings in International Business Machines were worth $14,209,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. iA Global Asset Management Inc. bought a new stake in International Business Machines in the first quarter valued at approximately $663,000. Cetera Investment Advisers raised its stake in International Business Machines by 340.3% in the first quarter. Cetera Investment Advisers now owns 293,448 shares of the technology company’s stock valued at $56,037,000 after buying an additional 226,802 shares during the period. Cetera Advisor Networks LLC raised its stake in International Business Machines by 6.2% in the first quarter. Cetera Advisor Networks LLC now owns 143,860 shares of the technology company’s stock valued at $27,471,000 after buying an additional 8,398 shares during the period. Railway Pension Investments Ltd bought a new stake in International Business Machines in the first quarter valued at approximately $24,328,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of International Business Machines by 75.5% during the first quarter. EverSource Wealth Advisors LLC now owns 2,405 shares of the technology company’s stock worth $459,000 after purchasing an additional 1,035 shares during the period. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IBM. DZ Bank lowered 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. Morgan Stanley lowered their target price on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Stifel Nicolaus increased their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Jefferies Financial Group increased their target price on 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 reiterated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $208.12.

International Business Machines Trading Down 0.8 %

Shares of IBM stock opened at $226.92 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a fifty-two week low of $154.86 and a fifty-two week high of $237.37. The company has a market cap of $209.82 billion, a PE ratio of 33.03, a P/E/G ratio of 5.09 and a beta of 0.71. The stock’s fifty day moving average price is $220.43 and its two-hundred day moving average price is $196.86.

International Business Machines (NYSE:IBM) last released its quarterly earnings data 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 return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter last year, the business posted $2.20 EPS. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts predict that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is currently owned by company insiders.

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.