International Business Machines Co. (NYSE:IBM) Stake Reduced by Braun Bostich & Associates Inc.

Braun Bostich & Associates Inc. trimmed its stake in International Business Machines Co. (NYSE:IBM) by 8.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,102 shares of the technology company’s stock after selling 108 shares during the quarter. Braun Bostich & Associates Inc.’s holdings in International Business Machines were worth $244,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new stake in International Business Machines in the 2nd quarter valued at approximately $7,160,000. Hodges Capital Management Inc. grew its stake in shares of International Business Machines by 60.8% in the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock worth $3,921,000 after purchasing an additional 7,768 shares in the last quarter. Burns J W & Co. Inc. NY raised 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 valued at $491,000 after purchasing an additional 250 shares in the last quarter. Smith Thornton Advisors LLC acquired a new stake in International Business Machines in the second quarter worth about $702,000. Finally, Retirement Planning Group LLC bought a new position in International Business Machines in the 3rd quarter valued at about $618,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Bank of America lifted their price target on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group boosted their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $198.41.

International Business Machines Price Performance

Shares of IBM opened at $233.00 on Wednesday. The firm’s 50 day moving average price is $209.64 and its 200 day moving average price is $188.23. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $237.37. The firm has a market cap of $214.03 billion, a PE ratio of 26.39, a PEG ratio of 5.21 and a beta of 0.70. 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 (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $2.18 EPS. As a group, research analysts expect that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 2.87%. International Business Machines’s payout ratio is presently 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.