Evermay Wealth Management LLC Has $216,000 Position in International Business Machines Co. (NYSE:IBM)

Evermay Wealth Management LLC cut its position in shares of International Business Machines Co. (NYSE:IBM) by 30.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 976 shares of the technology company’s stock after selling 418 shares during the quarter. Evermay Wealth Management LLC’s holdings in International Business Machines were worth $216,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IBM. Golden State Equity Partners grew its holdings in shares of International Business Machines by 2.7% during the 3rd quarter. Golden State Equity Partners now owns 12,045 shares of the technology company’s stock worth $2,663,000 after purchasing an additional 316 shares in the last quarter. GSB Wealth Management LLC boosted its stake in International Business Machines by 6.4% during the third quarter. GSB Wealth Management LLC now owns 14,043 shares of the technology company’s stock worth $3,105,000 after buying an additional 847 shares in the last quarter. Adell Harriman & Carpenter Inc. increased its holdings in International Business Machines by 2.7% in the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 63,532 shares of the technology company’s stock valued at $14,046,000 after buying an additional 1,660 shares during the period. Childress Capital Advisors LLC raised its stake in shares of International Business Machines by 10.7% in the 3rd quarter. Childress Capital Advisors LLC now owns 2,161 shares of the technology company’s stock valued at $478,000 after buying an additional 209 shares in the last quarter. Finally, Fidelis Capital Partners LLC raised its stake in shares of International Business Machines by 83.5% in the 3rd quarter. Fidelis Capital Partners LLC now owns 6,256 shares of the technology company’s stock valued at $1,456,000 after buying an additional 2,846 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

Shares of IBM stock opened at $205.04 on Thursday. The firm has a market cap of $188.35 billion, a price-to-earnings ratio of 23.22, a PEG ratio of 4.84 and a beta of 0.70. International Business Machines Co. has a 12 month low of $142.59 and a 12 month high of $237.37. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The stock has a 50-day moving average price of $216.38 and a 200 day moving average price of $190.95.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the previous year, the firm posted $2.20 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts expect that International Business Machines Co. will post 10.13 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.26%. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

Analyst Ratings Changes

A number of analysts recently weighed in on IBM shares. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Evercore ISI increased their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Bernstein Bank lifted their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. UBS Group raised their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Finally, Bank of America boosted their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to MarketBeat, International Business Machines has an average rating of “Hold” and an average target price of $208.12.

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.