Archer Investment Corp Trims Stake in International Business Machines Co. (NYSE:IBM)

Archer Investment Corp reduced its position in International Business Machines Co. (NYSE:IBM) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,561 shares of the technology company’s stock after selling 75 shares during the quarter. Archer Investment Corp’s holdings in International Business Machines were worth $1,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also bought and sold shares of IBM. Empirical Finance LLC boosted its holdings in shares of International Business Machines by 1.8% during the 3rd quarter. Empirical Finance LLC now owns 31,240 shares of the technology company’s stock valued at $6,907,000 after purchasing an additional 566 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its holdings in International Business Machines by 6.8% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 15,912 shares of the technology company’s stock valued at $3,518,000 after buying an additional 1,017 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of International Business Machines by 8.3% during the 3rd quarter. CIBC Asset Management Inc now owns 168,271 shares of the technology company’s stock worth $37,201,000 after acquiring an additional 12,865 shares in the last quarter. Intellectus Partners LLC increased its position in International Business Machines by 3.3% in the third quarter. Intellectus Partners LLC now owns 4,953 shares of the technology company’s stock worth $1,095,000 after purchasing an additional 158 shares during the last quarter. Finally, Balboa Wealth Partners lifted its position in International Business Machines by 59.9% during the third quarter. Balboa Wealth Partners now owns 2,430 shares of the technology company’s stock valued at $537,000 after purchasing an additional 910 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

Shares of International Business Machines stock traded down $1.14 on Friday, hitting $207.85. The company’s stock had a trading volume of 315,109 shares, compared to its average volume of 4,220,661. The firm has a fifty day moving average price of $218.70 and a 200-day moving average price of $193.22. International Business Machines Co. has a 1 year low of $152.13 and a 1 year high of $237.37. The company has a market capitalization of $192.19 billion, a price-to-earnings ratio of 30.28, a price-to-earnings-growth ratio of 4.74 and a beta of 0.71. 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 (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.20 earnings per share. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.21%. International Business Machines’s payout ratio is currently 97.23%.

Wall Street Analyst Weigh In

Several research firms recently commented on IBM. Evercore ISI lifted their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Tuesday. Morgan Stanley decreased their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. Finally, The Goldman Sachs Group boosted their price target on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Three equities research 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $208.12.

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.