Harvest Portfolios Group Inc. Sells 471 Shares of International Business Machines Co. (NYSE:IBM)

Harvest Portfolios Group Inc. trimmed its stake in International Business Machines Co. (NYSE:IBM) by 15.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,677 shares of the technology company’s stock after selling 471 shares during the period. Harvest Portfolios Group Inc.’s holdings in International Business Machines were worth $592,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of IBM. Susquehanna Fundamental Investments LLC bought a new stake in International Business Machines in the second quarter valued at approximately $7,160,000. Smith Thornton Advisors LLC acquired a new position in shares of International Business Machines in the 2nd quarter worth approximately $702,000. QRG Capital Management Inc. increased its position in shares of International Business Machines by 4.5% during the third quarter. QRG Capital Management Inc. now owns 140,185 shares of the technology company’s stock worth $30,992,000 after buying an additional 6,004 shares during the period. F M Investments LLC increased its position in shares of International Business Machines by 39.6% during the third quarter. F M Investments LLC now owns 61,938 shares of the technology company’s stock worth $13,696,000 after buying an additional 17,554 shares during the period. Finally, Retirement Planning Group LLC bought a new position in International Business Machines during the third quarter worth $618,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Up 2.9 %

IBM stock opened at $213.58 on Thursday. International Business Machines Co. has a one year low of $145.28 and a one year high of $237.37. The company has a market capitalization of $197.49 billion, a PE ratio of 31.09, a price-to-earnings-growth ratio of 4.64 and a beta of 0.71. The company’s 50 day moving average price is $217.49 and its two-hundred day moving average price is $191.86. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

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 the consensus estimate 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 10.22% and a return on equity of 40.52%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.20 earnings per share. As a group, analysts predict that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 3.13%. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

Analyst Ratings Changes

A number of analysts have weighed in on IBM shares. 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 report on Wednesday, October 9th. Stifel Nicolaus raised their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Morgan Stanley reduced their price objective on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Finally, UBS Group boosted their target price on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. 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 stock. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus target price 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.