Dumont & Blake Investment Advisors LLC Cuts Stock Position in International Business Machines Co. (NYSE:IBM)

Dumont & Blake Investment Advisors LLC cut its holdings in International Business Machines Co. (NYSE:IBM) by 50.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,871 shares of the technology company’s stock after selling 9,098 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in International Business Machines were worth $1,961,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of IBM. Vanguard Group Inc. raised its position in International Business Machines by 6.7% in the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after acquiring an additional 5,546,855 shares during the period. International Assets Investment Management LLC lifted its position in shares of International Business Machines by 20,324.5% during the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after buying an additional 2,702,340 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in International Business Machines by 151.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after buying an additional 2,118,165 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of International Business Machines by 306.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after buying an additional 1,056,759 shares during the last quarter. Finally, Strategic Financial Concepts LLC boosted its holdings in shares of International Business Machines by 12,282.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after acquiring an additional 468,567 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Stifel Nicolaus raised their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Jefferies Financial Group increased their price objective on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday. UBS Group increased their price objective on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Finally, Bank of America boosted their target price on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $208.12.

International Business Machines Price Performance

NYSE:IBM traded down $1.27 during trading hours on Friday, reaching $217.12. 592,731 shares of the company’s stock were exchanged, compared to its average volume of 4,206,547. The company has a market capitalization of $199.45 billion, a P/E ratio of 24.72, a price-to-earnings-growth 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 business’s 50-day simple moving average is $214.67 and its two-hundred day simple moving average is $190.05. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm 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 quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $2.20 EPS. Sell-side analysts expect that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

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 $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio 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.