Prio Wealth Limited Partnership Reduces Position in International Business Machines Co. (NYSE:IBM)

Prio Wealth Limited Partnership cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 0.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,378 shares of the technology company’s stock after selling 160 shares during the quarter. Prio Wealth Limited Partnership’s holdings in International Business Machines were worth $5,832,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Ellenbecker Investment Group grew its position in International Business Machines by 2.3% in the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after acquiring an additional 46 shares during the last quarter. Armbruster Capital Management Inc. raised its stake in International Business Machines by 2.3% in the second quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock valued at $432,000 after buying an additional 56 shares during the last quarter. Aspect Partners LLC raised its stake in International Business Machines by 11.2% in the third quarter. Aspect Partners LLC now owns 554 shares of the technology company’s stock valued at $122,000 after buying an additional 56 shares during the last quarter. CVA Family Office LLC raised its stake in International Business Machines by 3.3% in the second quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock valued at $311,000 after buying an additional 57 shares during the last quarter. Finally, Mill Creek Capital Advisors LLC raised its stake in International Business Machines by 5.1% in the second quarter. Mill Creek Capital Advisors LLC now owns 1,165 shares of the technology company’s stock valued at $201,000 after buying an additional 57 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Morgan Stanley increased their price target on International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a research note on Thursday. BMO Capital Markets raised their price objective on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Jefferies Financial Group raised their price objective on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday. Bernstein Bank raised their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Finally, Stifel Nicolaus raised their price objective 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. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $205.71.

International Business Machines Stock Performance

International Business Machines stock traded down $1.24 during midday trading on Monday, hitting $230.96. 679,943 shares of the company were exchanged, compared to its average volume of 4,177,851. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $237.37. The business has a fifty day simple moving average of $212.19 and a two-hundred day simple moving average of $189.14. The firm has a market capitalization of $212.16 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion during the quarter, compared to analysts’ expectations 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 previous year, the business earned $2.18 earnings per share. On average, sell-side analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

International Business Machines Company 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.