International Business Machines Co. (NYSE:IBM) Shares Sold by LaFleur & Godfrey LLC

LaFleur & Godfrey LLC cut its stake in International Business Machines Co. (NYSE:IBM) by 28.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,477 shares of the technology company’s stock after selling 12,802 shares during the period. LaFleur & Godfrey LLC’s holdings in International Business Machines were worth $6,959,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. FPC Investment Advisory Inc. bought a new stake in International Business Machines in the first quarter valued at about $26,000. ESL Trust Services LLC bought a new stake in shares of International Business Machines in the 1st quarter valued at approximately $28,000. Creekmur Asset Management LLC bought a new position in International Business Machines during the fourth quarter worth $29,000. Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines during the second quarter valued at $36,000. Finally, Financial Synergies Wealth Advisors Inc. raised its holdings in shares of International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after purchasing an additional 123 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IBM has been the topic of a number of research reports. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Bank of America increased their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Evercore ISI boosted their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Stifel Nicolaus raised their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, UBS Group boosted their price objective on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $200.82.

International Business Machines Stock Down 0.5 %

IBM traded down $1.18 on Wednesday, reaching $231.78. 991,555 shares of the company traded hands, compared to its average volume of 4,179,574. The stock’s 50 day moving average price is $209.64 and its 200-day moving average price is $188.23. The company has a market cap of $212.91 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $237.37. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.27. The company had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.18 EPS. On average, sell-side analysts expect that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio is 75.65%.

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.