Beese Fulmer Investment Management Inc. Sells 226 Shares of International Business Machines Co. (NYSE:IBM)

Beese Fulmer Investment Management Inc. lowered its stake in International Business Machines Co. (NYSE:IBM) by 2.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,172 shares of the technology company’s stock after selling 226 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in International Business Machines were worth $2,249,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. First National Bank of Hutchinson bought a new stake in International Business Machines in the 3rd quarter valued at $226,000. Romano Brothers AND Company increased its holdings in shares of International Business Machines by 3.5% in the 3rd quarter. Romano Brothers AND Company now owns 36,593 shares of the technology company’s stock worth $8,090,000 after buying an additional 1,253 shares during the last quarter. Great Lakes Retirement Inc. increased its holdings in shares of International Business Machines by 4,676.6% in the 3rd quarter. Great Lakes Retirement Inc. now owns 11,034 shares of the technology company’s stock worth $2,439,000 after buying an additional 10,803 shares during the last quarter. Brighton Jones LLC boosted its stake in shares of International Business Machines by 5.2% during the 3rd quarter. Brighton Jones LLC now owns 18,688 shares of the technology company’s stock worth $4,132,000 after purchasing an additional 922 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in shares of International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after purchasing an additional 2,702,340 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM opened at $232.75 on Thursday. The firm has a market cap of $213.80 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 5.21 and a beta of 0.70. The stock has a 50 day moving average of $214.67 and a 200-day moving average 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 Co. has a 52 week low of $136.05 and a 52 week high of $237.37.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.05. The business had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.20 EPS. As a group, analysts forecast that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio is presently 75.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IBM shares. Jefferies Financial Group upped their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday. Morgan Stanley upped their price objective on International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Bernstein Bank increased their target price on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Royal Bank of Canada increased their target price on International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Finally, UBS Group raised their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $205.71.

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.