Kessler Investment Group LLC Reduces Stock Position in International Business Machines Co. (NYSE:IBM)

Kessler Investment Group LLC lessened its holdings in International Business Machines Co. (NYSE:IBM) by 1.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 9,087 shares of the technology company’s stock after selling 120 shares during the period. International Business Machines accounts for about 1.0% of Kessler Investment Group LLC’s portfolio, making the stock its 24th biggest position. Kessler Investment Group LLC’s holdings in International Business Machines were worth $2,009,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of IBM. FPC Investment Advisory Inc. purchased a new stake in shares of International Business Machines in the first quarter worth about $26,000. ESL Trust Services LLC purchased a new stake in International Business Machines in the 1st quarter worth approximately $28,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Business Machines during the 2nd quarter worth approximately $36,000. Wolff Wiese Magana LLC lifted its stake in shares of 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 purchasing an additional 60 shares during the period. Finally, Briaud Financial Planning Inc boosted its holdings in International Business Machines by 54.3% during the second quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock worth $49,000 after buying an additional 100 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on IBM shares. BMO Capital Markets lifted their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Bank of America lifted their price target on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Stifel Nicolaus upped their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a report on Wednesday, October 2nd. Finally, UBS Group upped their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus price target of $205.71.

International Business Machines Price Performance

Shares of IBM stock traded down $0.02 during trading hours on Tuesday, reaching $231.73. The company had a trading volume of 393,363 shares, compared to its average volume of 4,169,861. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $237.37. The company has a market capitalization of $212.87 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 5.21 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The stock has a fifty day moving average of $213.04 and a 200-day moving average of $189.45.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period last year, the company earned $2.18 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 2.88%. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

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.