Continuum Wealth Advisors LLC Decreases Position in International Business Machines Co. (NYSE:IBM)

Continuum Wealth Advisors LLC lowered its stake in shares of International Business Machines Co. (NYSE:IBM) by 5.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,739 shares of the technology company’s stock after selling 98 shares during the quarter. Continuum Wealth Advisors LLC’s holdings in International Business Machines were worth $385,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. FPC Investment Advisory Inc. acquired a new stake in International Business Machines in the 1st quarter valued at about $26,000. ESL Trust Services LLC purchased a new position in International Business Machines in the first quarter worth approximately $28,000. Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines during the 2nd quarter worth approximately $36,000. Financial Synergies Wealth Advisors Inc. increased its position in shares of International Business Machines by 164.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after purchasing an additional 123 shares during the last quarter. Finally, Wolff Wiese Magana LLC raised its holdings 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 in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of NYSE IBM traded down $0.68 during mid-day trading on Friday, hitting $232.20. 4,715,688 shares of the company were exchanged, compared to its average volume of 4,195,661. The stock has a 50 day simple moving average of $212.19 and a 200-day simple moving average of $189.15. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $237.37. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The firm has a market cap of $213.30 billion, a price-to-earnings ratio of 26.30, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70.

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

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on IBM shares. UBS Group increased their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Evercore ISI boosted their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Bernstein Bank boosted their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Finally, The Goldman Sachs Group increased their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Three investment 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, International Business Machines has an average rating of “Hold” and a consensus price target of $203.06.

International Business Machines 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.