Janney Montgomery Scott LLC Sells 12,017 Shares of International Business Machines Co. (NYSE:IBM)

Janney Montgomery Scott LLC lessened its position in International Business Machines Co. (NYSE:IBM) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 638,535 shares of the technology company’s stock after selling 12,017 shares during the period. Janney Montgomery Scott LLC owned approximately 0.07% of International Business Machines worth $141,168,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new position in shares of International Business Machines in the 1st quarter valued at approximately $26,000. ESL Trust Services LLC acquired a new position in shares of International Business Machines in the first quarter valued at approximately $28,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Business Machines during the second quarter worth $36,000. Wolff Wiese Magana LLC lifted its position in International Business Machines by 37.0% in 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, Mowery & Schoenfeld Wealth Management LLC boosted its stake in International Business Machines by 47.2% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 240 shares of the technology company’s stock worth $53,000 after purchasing an additional 77 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Up 0.7 %

IBM opened at $208.25 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The stock has a fifty day moving average of $216.84 and a 200-day moving average of $191.29. International Business Machines Co. has a fifty-two week low of $144.84 and a fifty-two week high of $237.37. The company has a market capitalization of $192.56 billion, a P/E ratio of 30.31, a P/E/G ratio of 4.64 and a beta of 0.71.

International Business Machines (NYSE:IBM) last posted 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 $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the previous year, the firm posted $2.20 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, equities analysts expect that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently commented on IBM shares. Bank of America boosted their price target on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Jefferies Financial Group boosted their target price on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research note on Wednesday, October 2nd. Bernstein Bank boosted their price objective on shares of 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 raised their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, International Business Machines has an average rating of “Hold” and a consensus target price of $208.12.

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.