Blackston Financial Advisory Group LLC Sells 732 Shares of International Business Machines Co. (NYSE:IBM)

Blackston Financial Advisory Group LLC decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 31.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,581 shares of the technology company’s stock after selling 732 shares during the quarter. Blackston Financial Advisory Group LLC’s holdings in International Business Machines were worth $350,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Heritage Financial Services LLC boosted its stake in shares of International Business Machines by 11.1% in the third quarter. Heritage Financial Services LLC now owns 4,688 shares of the technology company’s stock worth $1,036,000 after acquiring an additional 468 shares during the period. Ballentine Partners LLC lifted its holdings in International Business Machines by 43.5% in the 3rd quarter. Ballentine Partners LLC now owns 19,036 shares of the technology company’s stock worth $4,208,000 after purchasing an additional 5,772 shares in the last quarter. Silver Oak Securities Incorporated boosted its stake in International Business Machines by 8.6% in the 3rd quarter. Silver Oak Securities Incorporated now owns 4,910 shares of the technology company’s stock worth $1,084,000 after purchasing an additional 390 shares during the period. Moody Lynn & Lieberson LLC grew its holdings in International Business Machines by 488.3% during the 3rd quarter. Moody Lynn & Lieberson LLC now owns 13,743 shares of the technology company’s stock valued at $3,038,000 after buying an additional 11,407 shares in the last quarter. Finally, Nicholson Wealth Management Group LLC bought a new stake in shares of International Business Machines during the third quarter valued at approximately $382,000. Institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on IBM shares. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research report on Wednesday, October 2nd. Jefferies Financial Group increased their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. BMO Capital Markets increased their price target on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Evercore ISI lifted their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Price Performance

IBM stock opened at $217.40 on Friday. The stock has a market cap of $199.70 billion, a PE ratio of 24.72, a P/E/G ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a 12 month low of $141.58 and a 12 month high of $237.37. The company has a 50-day moving average price of $214.67 and a 200 day moving average price of $190.05. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the previous year, the business earned $2.20 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities research analysts anticipate 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 announced 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 of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.07%. 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.