Capital Investment Advisors LLC Sells 1,628 Shares of International Business Machines Co. (NYSE:IBM)

Capital Investment Advisors LLC reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 2.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 65,321 shares of the technology company’s stock after selling 1,628 shares during the period. Capital Investment Advisors LLC’s holdings in International Business Machines were worth $14,441,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBM. Blue Trust Inc. grew its holdings in International Business Machines by 15.9% during the third quarter. Blue Trust Inc. now owns 18,289 shares of the technology company’s stock valued at $4,043,000 after purchasing an additional 2,508 shares during the period. Meridian Financial Partners LLC lifted its position in shares of International Business Machines by 4.6% during the third quarter. Meridian Financial Partners LLC now owns 1,926 shares of the technology company’s stock worth $426,000 after acquiring an additional 85 shares in the last quarter. Moss Adams Wealth Advisors LLC raised its position in shares of International Business Machines by 6.5% in the third quarter. Moss Adams Wealth Advisors LLC now owns 7,240 shares of the technology company’s stock worth $1,601,000 after buying an additional 445 shares in the last quarter. Accurate Wealth Management LLC raised its position in shares of International Business Machines by 4.0% in the third quarter. Accurate Wealth Management LLC now owns 5,049 shares of the technology company’s stock worth $1,176,000 after buying an additional 195 shares in the last quarter. Finally, Sage Financial Management Group Inc. purchased a new stake in shares of International Business Machines in the third quarter worth $332,000. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. BMO Capital Markets raised their price target on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Stifel Nicolaus boosted their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday. Royal Bank of Canada increased their target price on International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. UBS Group lifted their price target on shares of 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 research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $203.06.

International Business Machines Trading Down 0.3 %

International Business Machines stock opened at $232.22 on Friday. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $237.37. The firm has a market cap of $213.32 billion, a PE ratio of 26.30, a P/E/G ratio of 5.21 and a beta of 0.70. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The stock’s 50 day simple moving average is $212.19 and its two-hundred day simple moving average is $189.15.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share 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 company had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter last year, the firm posted $2.18 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Friday, August 9th. International Business Machines’s payout ratio is 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.