J.P. Marvel Investment Advisors LLC Has $5.08 Million Stake in International Business Machines Co. (NYSE:IBM)

J.P. Marvel Investment Advisors LLC cut its position in shares of International Business Machines Co. (NYSE:IBM) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,955 shares of the technology company’s stock after selling 100 shares during the quarter. J.P. Marvel Investment Advisors LLC’s holdings in International Business Machines were worth $5,075,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of IBM. Envestnet Portfolio Solutions Inc. grew its stake in International Business Machines by 37.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 54,411 shares of the technology company’s stock worth $10,390,000 after purchasing an additional 14,929 shares during the period. Hilltop National Bank bought a new stake in shares of International Business Machines in the 1st quarter valued at $560,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in International Business Machines by 22.2% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,199 shares of the technology company’s stock worth $1,184,000 after acquiring an additional 1,127 shares in the last quarter. PFG Advisors grew its holdings in International Business Machines by 8.1% in the first quarter. PFG Advisors now owns 5,629 shares of the technology company’s stock worth $1,075,000 after purchasing an additional 422 shares during the period. Finally, Nelson Capital Management LLC bought a new stake in International Business Machines in the first quarter valued at $266,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

International Business Machines stock opened at $213.76 on Friday. The stock has a market cap of $197.65 billion, a P/E ratio of 31.11, a P/E/G ratio of 4.64 and a beta of 0.71. 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 company’s 50 day moving average price is $217.49 and its two-hundred day moving average price is $191.86. International Business Machines Co. has a 52 week low of $145.28 and a 52 week high of $237.37.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the previous year, the firm earned $2.20 earnings per share. The business’s revenue was up 1.5% on a year-over-year basis. On average, equities analysts predict that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.13%. International Business Machines’s payout ratio is currently 97.23%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Stifel Nicolaus raised their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a report on Wednesday, October 2nd. The Goldman Sachs Group increased their target price on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Morgan Stanley decreased their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Finally, StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.