Empire Financial Management Company LLC Has $6.65 Million Position in International Business Machines Co. (NYSE:IBM)

Empire Financial Management Company LLC cut its stake in International Business Machines Co. (NYSE:IBM) by 9.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,096 shares of the technology company’s stock after selling 3,011 shares during the period. International Business Machines makes up 2.0% of Empire Financial Management Company LLC’s holdings, making the stock its 6th largest position. Empire Financial Management Company LLC’s holdings in International Business Machines were worth $6,654,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Ellenbecker Investment Group grew its stake in shares of International Business Machines by 2.3% in the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after purchasing an additional 46 shares during the last quarter. Goldstein Advisors LLC lifted its holdings in International Business Machines by 4.0% during the 3rd quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after buying an additional 47 shares during the period. Vertex Planning Partners LLC grew its position in shares of International Business Machines by 3.6% in the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock valued at $298,000 after buying an additional 47 shares during the last quarter. Sollinda Capital Management LLC increased its stake in shares of International Business Machines by 3.7% in the third quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after buying an additional 49 shares during the period. Finally, Lansing Street Advisors raised its position in shares of International Business Machines by 3.4% during the third quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock worth $332,000 after acquiring an additional 49 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $231.76 on Wednesday. International Business Machines Co. has a 1-year low of $157.88 and a 1-year high of $239.35. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The stock has a market cap of $214.30 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 5.16 and a beta of 0.73. The stock’s fifty day simple moving average is $221.92 and its two-hundred day simple moving average is $200.27.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the previous year, the company earned $2.20 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, analysts forecast that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were paid a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 2.88%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Analysts Set New Price Targets

Several analysts recently commented on IBM shares. Morgan Stanley reduced their target price on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. UBS Group increased their price target on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Evercore ISI boosted their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Jefferies Financial Group raised their target price on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Finally, Bernstein Bank boosted their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average target price of $208.12.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.07% of the company’s stock.

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.