Fortune Financial Advisors LLC Sells 162 Shares of International Business Machines Co. (NYSE:IBM)

Fortune Financial Advisors LLC lessened its position in shares of International Business Machines Co. (NYSE:IBM) by 9.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,554 shares of the technology company’s stock after selling 162 shares during the period. Fortune Financial Advisors LLC’s holdings in International Business Machines were worth $269,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bahl & Gaynor Inc. raised its position in International Business Machines by 5.9% during the second quarter. Bahl & Gaynor Inc. now owns 8,898 shares of the technology company’s stock valued at $1,539,000 after purchasing an additional 498 shares in the last quarter. HHM Wealth Advisors LLC increased its holdings in shares of International Business Machines by 12.0% during the second quarter. HHM Wealth Advisors LLC now owns 1,233 shares of the technology company’s stock worth $213,000 after buying an additional 132 shares in the last quarter. Marco Investment Management LLC increased its holdings in shares of International Business Machines by 1.6% during the second quarter. Marco Investment Management LLC now owns 11,031 shares of the technology company’s stock worth $1,908,000 after buying an additional 170 shares in the last quarter. Evernest Financial Advisors LLC grew its stake in shares of International Business Machines by 3.9% in the second quarter. Evernest Financial Advisors LLC now owns 1,547 shares of the technology company’s stock worth $267,000 after purchasing an additional 58 shares during the last quarter. Finally, KFA Private Wealth Group LLC grew its stake in shares of International Business Machines by 17.4% in the second quarter. KFA Private Wealth Group LLC now owns 2,041 shares of the technology company’s stock worth $353,000 after purchasing an additional 303 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Up 2.2 %

Shares of International Business Machines stock opened at $209.82 on Thursday. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The stock has a market capitalization of $193.28 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 4.47 and a beta of 0.70. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $210.12. The company has a 50-day simple moving average of $191.34 and a two-hundred day simple moving average of $182.99.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the previous year, the company earned $2.18 earnings per share. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. On average, analysts anticipate that International Business Machines Co. will post 10.1 EPS 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 given a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.18%. International Business Machines’s payout ratio is currently 75.65%.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of research analyst reports. Jefferies Financial Group upped their price target on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. UBS Group upped their price target 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. Stifel Nicolaus upped their price target on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Finally, The Goldman Sachs Group started coverage on shares of International Business Machines in a report on Monday, June 24th. They set a “buy” rating and a $200.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $188.60.

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.