Prosperitas Financial LLC Sells 13,349 Shares of International Business Machines Co. (NYSE:IBM)

Prosperitas Financial LLC cut its holdings in International Business Machines Co. (NYSE:IBM) by 92.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,147 shares of the technology company’s stock after selling 13,349 shares during the period. Prosperitas Financial LLC’s holdings in International Business Machines were worth $254,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Fort Pitt Capital Group LLC raised its holdings in International Business Machines by 29.3% during the 3rd quarter. Fort Pitt Capital Group LLC now owns 1,821 shares of the technology company’s stock valued at $402,000 after buying an additional 413 shares during the period. Prossimo Advisors LLC grew its stake in International Business Machines by 4.1% in the 3rd quarter. Prossimo Advisors LLC now owns 2,388 shares of the technology company’s stock worth $528,000 after acquiring an additional 93 shares in the last quarter. REDW Wealth LLC purchased a new stake in shares of International Business Machines in the third quarter valued at approximately $223,000. Pure Financial Advisors LLC increased its stake in shares of International Business Machines by 5.1% during the third quarter. Pure Financial Advisors LLC now owns 5,196 shares of the technology company’s stock valued at $1,149,000 after buying an additional 252 shares during the period. Finally, Northern Financial Advisors Inc increased its position in International Business Machines by 0.6% during the 3rd quarter. Northern Financial Advisors Inc now owns 7,815 shares of the technology company’s stock valued at $1,728,000 after purchasing an additional 50 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on IBM shares. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Bernstein Bank upped their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. 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 note on Wednesday, October 9th. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research note on Wednesday, October 2nd. Finally, BMO Capital Markets upped their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines has an average rating of “Hold” and a consensus target price of $208.12.

International Business Machines Trading Up 0.7 %

IBM opened at $208.25 on Friday. International Business Machines Co. has a 52 week low of $144.84 and a 52 week high of $237.37. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The business has a fifty day simple moving average of $216.84 and a 200-day simple moving average of $191.29. The firm has a market cap of $192.56 billion, a P/E ratio of 30.31, a P/E/G ratio of 4.64 and a beta of 0.71.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the business posted $2.20 EPS. On average, equities analysts expect that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.21%. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

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.