International Business Machines Co. (NYSE:IBM) Shares Sold by Wealth Alliance Advisory Group LLC

Wealth Alliance Advisory Group LLC reduced its position in International Business Machines Co. (NYSE:IBM) by 59.6% in the 3rd quarter, Holdings Channel reports. The firm owned 2,242 shares of the technology company’s stock after selling 3,301 shares during the quarter. Wealth Alliance Advisory Group LLC’s holdings in International Business Machines were worth $496,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. FPC Investment Advisory Inc. purchased a new position in shares of International Business Machines in the first quarter worth about $26,000. ESL Trust Services LLC purchased a new position in International Business Machines in the 1st quarter worth approximately $28,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of International Business Machines during the 2nd quarter worth approximately $36,000. Financial Synergies Wealth Advisors Inc. grew its position in shares of International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after purchasing an additional 123 shares in the last quarter. Finally, Wolff Wiese Magana LLC increased its holdings in shares of International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on IBM shares. Bank of America upped their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Stifel Nicolaus raised their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley boosted their target price on shares of International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a report on Thursday. UBS Group raised their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Finally, 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 research note on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $203.06.

International Business Machines Stock Down 0.3 %

International Business Machines stock opened at $232.20 on Friday. The firm has a market capitalization of $213.30 billion, a P/E ratio of 26.30, a P/E/G ratio of 5.21 and a beta of 0.70. The stock’s fifty day simple moving average is $212.19 and its 200-day simple moving average is $189.15. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $237.37. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter last year, the company earned $2.18 EPS. International Business Machines’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.88%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

International Business Machines 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.