International Business Machines Co. (NYSE:IBM) Shares Sold by Lazari Capital Management Inc.

Lazari Capital Management Inc. reduced its position in shares of International Business Machines Co. (NYSE:IBM) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,886 shares of the technology company’s stock after selling 87 shares during the period. Lazari Capital Management Inc.’s holdings in International Business Machines were worth $417,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Financial Insights Inc. acquired a new stake in shares of International Business Machines during the third quarter valued at about $202,000. BLB&B Advisors LLC increased its holdings in International Business Machines by 0.9% during the 3rd quarter. BLB&B Advisors LLC now owns 23,929 shares of the technology company’s stock worth $5,290,000 after purchasing an additional 222 shares during the last quarter. Waldron Private Wealth LLC raised its position in shares of International Business Machines by 5.2% in the 3rd quarter. Waldron Private Wealth LLC now owns 8,153 shares of the technology company’s stock valued at $1,803,000 after purchasing an additional 402 shares in the last quarter. Leo Wealth LLC boosted its stake in shares of 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 buying an additional 539 shares during the last quarter. Finally, Eastern Bank grew its position in shares of International Business Machines by 1,392.9% during the third quarter. Eastern Bank now owns 22,453 shares of the technology company’s stock worth $4,964,000 after buying an additional 20,949 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Evercore ISI upped their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Morgan Stanley lifted their price target on International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Jefferies Financial Group upped their price objective on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday. Bernstein Bank lifted their target price on 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. Finally, 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. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines has an average rating of “Hold” and an average target price of $205.71.

International Business Machines Stock Performance

Shares of IBM stock opened at $232.25 on Wednesday. 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 Co. has a 12-month low of $135.87 and a 12-month high of $237.37. The business has a 50 day simple moving average of $213.86 and a 200 day simple moving average of $189.75. The firm has a market capitalization of $213.35 billion, a price-to-earnings ratio of 26.30, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share 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 company had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same period in the prior year, the business posted $2.18 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities 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. Stockholders of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 2.88%. International Business Machines’s dividend payout ratio (DPR) is 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.