Beaird Harris Wealth Management LLC Sells 299 Shares of International Business Machines Co. (NYSE:IBM)

Beaird Harris Wealth Management LLC lowered its holdings in International Business Machines Co. (NYSE:IBM) by 24.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 937 shares of the technology company’s stock after selling 299 shares during the period. Beaird Harris Wealth Management LLC’s holdings in International Business Machines were worth $207,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. grew its stake in International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC acquired a new stake in shares of International Business Machines in the 3rd quarter valued at approximately $29,000. Capital Performance Advisors LLP acquired a new position in International Business Machines during the third quarter worth $43,000. Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines during the second quarter worth $36,000. Finally, Quest Partners LLC raised its position in International Business Machines by 23,700.0% during the third quarter. Quest Partners LLC now owns 238 shares of the technology company’s stock worth $53,000 after acquiring an additional 237 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IBM has been the topic of a number of research analyst reports. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Morgan Stanley dropped their price objective 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. BMO Capital Markets lifted their target price on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Bank of America increased their price target on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Bernstein Bank lifted their price objective on shares of 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 equities 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 data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $208.12.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $232.26 on Friday. The stock has a market capitalization of $214.76 billion, a PE ratio of 33.81, a P/E/G ratio of 5.17 and a beta of 0.73. International Business Machines Co. has a fifty-two week low of $157.88 and a fifty-two week high of $239.35. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The business has a fifty day moving average price of $222.57 and a two-hundred day moving average price of $201.12.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the previous year, the firm earned $2.20 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were given a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 2.88%. International Business Machines’s dividend payout ratio is currently 97.23%.

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.