Sentry LLC Sells 494 Shares of International Business Machines Co. (NYSE:IBM)

Sentry LLC trimmed its holdings in International Business Machines Co. (NYSE:IBM) by 3.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 14,546 shares of the technology company’s stock after selling 494 shares during the period. International Business Machines accounts for about 0.6% of Sentry LLC’s portfolio, making the stock its 18th largest position. Sentry LLC’s holdings in International Business Machines were worth $3,216,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after purchasing an additional 5,546,855 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after buying an additional 2,118,165 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of International Business Machines by 306.3% during the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after acquiring an additional 1,056,759 shares during the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of International Business Machines by 12,282.2% during the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after purchasing an additional 468,567 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of International Business Machines by 6.4% during the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after purchasing an additional 444,698 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 1.0 %

IBM stock opened at $233.00 on Wednesday. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $237.37. The firm’s 50-day moving average is $209.64 and its 200 day moving average is $188.23. The company has a market capitalization of $214.03 billion, a PE ratio of 26.39, a P/E/G ratio of 5.21 and a beta of 0.70. 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 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period last year, the company posted $2.18 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, research analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Analysts Set New Price Targets

IBM has been the subject of a number of research reports. Jefferies Financial Group increased their price target on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Royal Bank of Canada increased their target price on International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Bernstein Bank boosted their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Stifel Nicolaus boosted their price objective on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, DZ Bank lowered 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. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $198.41.

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.