CFS Investment Advisory Services LLC Sells 8,722 Shares of International Business Machines Co. (NYSE:IBM)

CFS Investment Advisory Services LLC reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 48.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,154 shares of the technology company’s stock after selling 8,722 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in International Business Machines were worth $2,024,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Legal & General Group Plc grew its position in International Business Machines by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after acquiring an additional 330,694 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of International Business Machines by 6.4% during the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after purchasing an additional 444,698 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of International Business Machines by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after purchasing an additional 304,390 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares during the last quarter. Finally, Swiss National Bank increased its stake in shares of International Business Machines by 0.5% in the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock worth $602,819,000 after buying an additional 12,400 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on IBM shares. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research report on Wednesday, October 2nd. The Goldman Sachs Group raised their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. UBS Group upped their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Morgan Stanley lowered 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 report on Thursday, October 24th. Finally, BMO Capital Markets upped their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $208.12.

Insider Buying and Selling 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 stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is owned by corporate insiders.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $222.30 on Friday. The business has a 50-day simple moving average of $219.29 and a two-hundred day simple moving average of $194.83. 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 firm has a market cap of $205.55 billion, a price-to-earnings ratio of 32.36, a price-to-earnings-growth ratio of 4.72 and a beta of 0.71. International Business Machines Co. has a fifty-two week low of $153.92 and a fifty-two week high of $237.37.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $2.20 earnings per share. On average, analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed 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. This represents a $6.68 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 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.