SRN Advisors LLC Sells 2,180 Shares of International Business Machines Co. (NYSE:IBM)

SRN Advisors LLC decreased its position in International Business Machines Co. (NYSE:IBM) by 46.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,511 shares of the technology company’s stock after selling 2,180 shares during the period. SRN Advisors LLC’s holdings in International Business Machines were worth $555,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Foguth Wealth Management LLC. purchased a new stake in shares of International Business Machines during the 1st quarter valued at $273,000. Cornerstone Wealth Group LLC boosted its holdings in shares of International Business Machines by 97.9% in the 1st quarter. Cornerstone Wealth Group LLC now owns 3,431 shares of the technology company’s stock worth $655,000 after buying an additional 1,697 shares during the last quarter. Trilogy Capital Inc. bought a new position in International Business Machines during the first quarter valued at about $434,000. Citizens Business Bank increased its holdings in International Business Machines by 11.5% during the first quarter. Citizens Business Bank now owns 2,092 shares of the technology company’s stock worth $399,000 after buying an additional 216 shares during the last quarter. Finally, LVW Advisors LLC bought a new stake in International Business Machines in the first quarter worth about $330,000. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

IBM has been the subject of several research reports. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Bank of America increased their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI boosted their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. UBS Group increased their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Finally, Jefferies Financial Group lifted their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines Trading Down 1.7 %

Shares of IBM stock opened at $214.67 on Friday. The stock has a fifty day simple moving average of $215.58 and a two-hundred day simple moving average of $190.43. International Business Machines Co. has a 52-week low of $141.58 and a 52-week high of $237.37. The firm has a market capitalization of $197.74 billion, a PE ratio of 23.67, a PEG ratio of 4.84 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 released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion for 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%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.20 earnings per share. On average, analysts predict that International Business Machines Co. will post 10.13 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders 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 dividend yield of 3.11%. International Business Machines’s payout ratio is currently 73.65%.

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.