International Business Machines Co. (NYSE:IBM) Shares Sold by Syntegra Private Wealth Group LLC

Syntegra Private Wealth Group LLC trimmed its position in shares of International Business Machines Co. (NYSE:IBM) by 3.0% in the 3rd quarter, Holdings Channel reports. The firm owned 5,651 shares of the technology company’s stock after selling 175 shares during the period. Syntegra Private Wealth Group LLC’s holdings in International Business Machines were worth $1,249,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of International Business Machines by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after purchasing an additional 5,546,855 shares during the period. Price T Rowe Associates Inc. MD raised its position in International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after purchasing an additional 2,118,165 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of International Business Machines by 306.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after acquiring an additional 1,056,759 shares during the last quarter. Strategic Financial Concepts LLC increased its holdings in shares of International Business Machines by 12,282.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after acquiring an additional 468,567 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after acquiring an additional 444,698 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on IBM shares. Royal Bank of Canada lifted their target price on International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Jefferies Financial Group boosted their target price on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday. UBS Group upped 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. Bank of America upped their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Stifel Nicolaus upped 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. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $205.71.

International Business Machines Stock Up 0.1 %

Shares of IBM stock traded up $0.21 during trading hours on Wednesday, reaching $232.46. The company had a trading volume of 666,938 shares, compared to its average volume of 4,166,371. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. International Business Machines Co. has a twelve month low of $136.05 and a twelve month high of $237.37. The company has a market capitalization of $213.54 billion, a P/E ratio of 26.30, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. The stock’s fifty day simple moving average is $213.86 and its 200 day simple moving average is $189.75.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $15.62 billion. During the same quarter last year, the firm earned $2.18 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.87%. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

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.