J.W. Cole Advisors Inc. Sells 213 Shares of International Business Machines Co. (NYSE:IBM)

J.W. Cole Advisors Inc. cut its position in shares of International Business Machines Co. (NYSE:IBM) by 1.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,026 shares of the technology company’s stock after selling 213 shares during the period. J.W. Cole Advisors Inc.’s holdings in International Business Machines were worth $4,206,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. State of Alaska Department of Revenue increased its position in shares of International Business Machines by 5.8% during the third quarter. State of Alaska Department of Revenue now owns 108,000 shares of the technology company’s stock valued at $23,876,000 after purchasing an additional 5,960 shares during the period. Carret Asset Management LLC increased its position in shares of International Business Machines by 0.3% during the third quarter. Carret Asset Management LLC now owns 19,400 shares of the technology company’s stock valued at $4,289,000 after purchasing an additional 51 shares during the period. Goldstein Advisors LLC increased its position in shares of International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after purchasing an additional 47 shares during the period. Clear Harbor Asset Management LLC increased its position in shares of International Business Machines by 20.5% during the third quarter. Clear Harbor Asset Management LLC now owns 2,323 shares of the technology company’s stock valued at $514,000 after purchasing an additional 395 shares during the period. Finally, Smith Salley Wealth Management increased its position in shares of International Business Machines by 2.1% during the third quarter. Smith Salley Wealth Management now owns 9,173 shares of the technology company’s stock valued at $2,028,000 after purchasing an additional 191 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Down 1.7 %

International Business Machines stock traded down $3.72 during mid-day trading on Friday, hitting $214.67. The stock had a trading volume of 8,482,235 shares, compared to its average volume of 3,480,485. The stock has a market capitalization of $197.74 billion, a PE ratio of 23.67, a P/E/G ratio of 4.84 and a beta of 0.70. International Business Machines Co. has a 12 month low of $141.58 and a 12 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. The stock has a 50-day simple moving average of $215.58 and a two-hundred day simple moving average of $190.43.

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 business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.20 earnings per share. As a group, sell-side analysts forecast that International Business Machines Co. will post 10.13 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is 73.65%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IBM. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday. 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 report on Thursday, October 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research report on Thursday. Bank of America upped 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. Finally, BMO Capital Markets upped their price target on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, International Business Machines has an average rating of “Hold” and a consensus price target of $208.12.

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.