TriaGen Wealth Management LLC Cuts Stock Position in International Business Machines Co. (NYSE:IBM)

TriaGen Wealth Management LLC lessened its position in International Business Machines Co. (NYSE:IBM) by 3.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,619 shares of the technology company’s stock after selling 100 shares during the quarter. TriaGen Wealth Management LLC’s holdings in International Business Machines were worth $579,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IBM. Park Avenue Securities LLC raised its holdings in shares of International Business Machines by 1.3% in the 1st quarter. Park Avenue Securities LLC now owns 20,213 shares of the technology company’s stock valued at $3,860,000 after buying an additional 265 shares during the period. RFG Advisory LLC increased its holdings in International Business Machines by 3.0% during the 1st quarter. RFG Advisory LLC now owns 21,897 shares of the technology company’s stock worth $4,181,000 after purchasing an additional 631 shares during the period. O Keefe Stevens Advisory Inc. purchased a new stake in International Business Machines during the 1st quarter worth about $212,000. Paragon Capital Management Ltd purchased a new stake in International Business Machines during the 1st quarter worth about $245,000. Finally, Salem Investment Counselors Inc. increased its holdings in International Business Machines by 2.0% during the 1st quarter. Salem Investment Counselors Inc. now owns 6,621 shares of the technology company’s stock worth $1,264,000 after purchasing an additional 129 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE IBM traded down $0.68 during trading hours on Friday, reaching $232.20. The stock had a trading volume of 4,715,688 shares, compared to its average volume of 4,195,661. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $237.37. The firm has a 50-day moving average of $212.19 and a 200-day moving average of $189.15. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The firm has a market cap of $213.30 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data 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 return on equity of 40.59% and a net margin of 13.52%. The company had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period last year, the firm earned $2.18 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders 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 dividend on an annualized basis and a yield of 2.88%. International Business Machines’s payout ratio is 75.65%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on IBM. Royal Bank of Canada upped their price target on International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Bernstein Bank upped their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Stifel Nicolaus upped their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Finally, Evercore ISI increased their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $203.06.

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.