Roanoke Asset Management Corp NY Reduces Stock Position in International Business Machines Co. (NYSE:IBM)

Roanoke Asset Management Corp NY decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 1.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 7,605 shares of the technology company’s stock after selling 140 shares during the period. Roanoke Asset Management Corp NY’s holdings in International Business Machines were worth $1,681,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. FPC Investment Advisory Inc. purchased a new stake in International Business Machines during the first quarter worth $26,000. ESL Trust Services LLC purchased a new stake in shares of International Business Machines in the 1st quarter worth about $28,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines in the 2nd quarter valued at about $36,000. Wolff Wiese Magana LLC increased its holdings in International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after acquiring an additional 60 shares in the last quarter. Finally, Briaud Financial Planning Inc raised its position in International Business Machines by 54.3% during the second quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock worth $49,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IBM. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Stifel Nicolaus raised their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Jefferies Financial Group upped 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, October 21st. Bernstein Bank lifted their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Finally, The Goldman Sachs Group upped their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $208.12.

International Business Machines Trading Up 0.7 %

IBM stock opened at $208.22 on Friday. International Business Machines Co. has a 52 week low of $144.84 and a 52 week high of $237.37. The company has a market cap of $191.80 billion, a price-to-earnings ratio of 30.31, a PEG ratio of 4.28 and a beta of 0.70. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The business has a fifty day simple moving average of $216.84 and a 200-day simple moving average of $191.24.

International Business Machines (NYSE:IBM) last released 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. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period last year, the business posted $2.20 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts expect that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.21%. International Business Machines’s payout ratio is 97.23%.

About International Business Machines

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.