International Business Machines Co. (NYSE:IBM) Holdings Cut by Cladis Investment Advisory LLC

Cladis Investment Advisory LLC reduced its holdings in International Business Machines Co. (NYSE:IBM) by 9.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 12,560 shares of the technology company’s stock after selling 1,250 shares during the quarter. International Business Machines accounts for about 1.9% of Cladis Investment Advisory LLC’s investment portfolio, making the stock its 8th largest holding. Cladis Investment Advisory LLC’s holdings in International Business Machines were worth $2,777,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Hazlett Burt & Watson Inc. increased its position in shares of International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after buying an additional 116 shares during the period. Hara Capital LLC bought a new stake in International Business Machines during the 3rd quarter valued at approximately $29,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Business Machines during the second quarter valued at approximately $36,000. Wolff Wiese Magana LLC raised its holdings in International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in International Business Machines during the third quarter valued at $43,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

NYSE IBM opened at $227.41 on Monday. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. International Business Machines Co. has a 1-year low of $156.89 and a 1-year high of $237.37. The stock has a market capitalization of $210.27 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 5.11 and a beta of 0.71. The business’s fifty day moving average price is $220.63 and its 200-day moving average price is $197.69.

International Business Machines (NYSE:IBM) last released its quarterly earnings results 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. The business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.20 EPS. On average, equities analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 dividend yield of 2.94%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred 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 completion of 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on IBM. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Morgan Stanley dropped their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. UBS Group raised their price objective on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Finally, 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 research note on Monday, September 30th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $208.12.

International Business Machines Company 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.