Alexander Labrunerie & CO. Inc. Sells 303 Shares of International Business Machines Co. (NYSE:IBM)

Alexander Labrunerie & CO. Inc. lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 16.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,514 shares of the technology company’s stock after selling 303 shares during the period. Alexander Labrunerie & CO. Inc.’s holdings in International Business Machines were worth $335,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in IBM. Waldron Private Wealth LLC boosted its position in shares of International Business Machines by 5.2% during the third quarter. Waldron Private Wealth LLC now owns 8,153 shares of the technology company’s stock valued at $1,803,000 after buying an additional 402 shares during the last quarter. Leo Wealth LLC lifted its stake in International Business Machines by 2.8% during the 3rd quarter. Leo Wealth LLC now owns 19,550 shares of the technology company’s stock valued at $4,322,000 after acquiring an additional 539 shares during the period. Eastern Bank boosted its holdings in shares of International Business Machines by 1,392.9% during the 3rd quarter. Eastern Bank now owns 22,453 shares of the technology company’s stock valued at $4,964,000 after acquiring an additional 20,949 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of International Business Machines by 23.9% in the third quarter. Sequoia Financial Advisors LLC now owns 117,579 shares of the technology company’s stock worth $25,994,000 after acquiring an additional 22,700 shares during the period. Finally, Argus Investors Counsel Inc. bought a new position in International Business Machines during the third quarter valued at approximately $422,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Royal Bank of Canada upped their price objective 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. Evercore ISI increased their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Jefferies Financial Group boosted their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday. Finally, Stifel Nicolaus raised their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $205.71.

International Business Machines Trading Up 0.2 %

Shares of International Business Machines stock opened at $232.25 on Wednesday. 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 company has a fifty day moving average of $213.86 and a 200 day moving average of $189.75. The company has a market capitalization of $213.35 billion, a P/E ratio of 26.30, a P/E/G ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $237.37.

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

International Business Machines Announces Dividend

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