Valley Wealth Managers Inc. Sells 639 Shares of International Business Machines Co. (NYSE:IBM)

Valley Wealth Managers Inc. lessened its holdings in International Business Machines Co. (NYSE:IBM) by 2.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 22,946 shares of the technology company’s stock after selling 639 shares during the period. Valley Wealth Managers Inc.’s holdings in International Business Machines were worth $5,073,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. ESL Trust Services LLC purchased a new position in shares of International Business Machines during the 1st quarter valued at $28,000. Hazlett Burt & Watson Inc. raised its stake in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares during the period. Hara Capital LLC purchased a new position in International Business Machines in the 3rd quarter worth approximately $29,000. Oliver Lagore Vanvalin Investment Group bought a new position in International Business Machines in the 2nd quarter worth approximately $36,000. Finally, Wolff Wiese Magana LLC raised its position in shares of International Business Machines by 37.0% during the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after buying an additional 60 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

NYSE:IBM traded down $1.14 during trading hours on Friday, reaching $207.85. 315,109 shares of the company traded hands, compared to its average volume of 4,220,661. The stock has a market cap of $192.19 billion, a P/E ratio of 30.28, a P/E/G ratio of 4.74 and a beta of 0.71. International Business Machines Co. has a 1-year low of $152.13 and a 1-year high of $237.37. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The firm’s 50-day moving average is $218.70 and its 200-day moving average is $193.22.

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. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. International Business Machines’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.20 earnings per share. Equities research analysts expect that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders 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 dividend on an annualized basis and a yield of 3.21%. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. 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 report on Wednesday, October 9th. Jefferies Financial Group increased their price objective on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Stifel Nicolaus upped their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley reduced their price objective 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, Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average price target of $208.12.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.07% of the company’s stock.

International Business Machines 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.