International Business Machines Co. (NYSE:IBM) Shares Sold by Proquility Private Wealth Partners LLC

Proquility Private Wealth Partners LLC lowered its holdings in shares of International Business Machines Co. (NYSE:IBM) by 3.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,951 shares of the technology company’s stock after selling 545 shares during the period. Proquility Private Wealth Partners LLC’s holdings in International Business Machines were worth $3,084,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bill Few Associates Inc. boosted its holdings in International Business Machines by 4.5% during the third quarter. Bill Few Associates Inc. now owns 15,375 shares of the technology company’s stock worth $3,399,000 after buying an additional 666 shares in the last quarter. Mason & Associates LLC acquired a new stake in shares of International Business Machines during the third quarter worth $208,000. Bourne Lent Asset Management Inc. acquired a new position in shares of International Business Machines in the 3rd quarter valued at $254,000. Acorn Creek Capital LLC acquired a new stake in International Business Machines during the 3rd quarter worth about $201,000. Finally, Brady Family Wealth LLC purchased a new position in shares of International Business Machines in the third quarter worth approximately $350,000. 58.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on IBM shares. BMO Capital Markets lifted their price target on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Bank of America boosted their price target on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada boosted their target price on International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group lifted their price target on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $198.41.

International Business Machines Stock Up 0.1 %

Shares of NYSE IBM opened at $233.20 on Wednesday. The business has a fifty day moving average of $209.64 and a two-hundred day moving average of $188.23. 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 52-week low of $135.87 and a 52-week high of $237.37. The stock has a market cap of $214.22 billion, a PE ratio of 26.39, a PEG ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping 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 business had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the previous year, the business earned $2.18 EPS. International Business Machines’s revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company 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 was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.86%. International Business Machines’s payout ratio is currently 75.65%.

International Business Machines 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.