International Business Machines Co. (NYSE:IBM) Stake Cut by Monument Group Wealth Advisors LLC

Monument Group Wealth Advisors LLC decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 2.8% in the 3rd quarter, Holdings Channel reports. The firm owned 1,759 shares of the technology company’s stock after selling 51 shares during the quarter. International Business Machines comprises about 0.2% of Monument Group Wealth Advisors LLC’s investment portfolio, making the stock its 26th biggest holding. Monument Group Wealth Advisors LLC’s holdings in International Business Machines were worth $389,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Ellenbecker Investment Group boosted its holdings in International Business Machines by 2.3% during the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after buying an additional 46 shares during the last quarter. Armbruster Capital Management Inc. lifted its position in International Business Machines by 2.3% during the 2nd quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock worth $432,000 after buying an additional 56 shares in the last quarter. Aspect Partners LLC grew its stake in International Business Machines by 11.2% in the third quarter. Aspect Partners LLC now owns 554 shares of the technology company’s stock valued at $122,000 after purchasing an additional 56 shares in the last quarter. CVA Family Office LLC increased its holdings in International Business Machines by 3.3% during the second quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock worth $311,000 after buying an additional 57 shares during the last quarter. Finally, Mill Creek Capital Advisors LLC raised its holdings in shares of International Business Machines by 5.1% in the 2nd quarter. Mill Creek Capital Advisors LLC now owns 1,165 shares of the technology company’s stock valued at $201,000 after purchasing an additional 57 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IBM has been the subject of several research analyst reports. Morgan Stanley lifted their target price on International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Thursday. The Goldman Sachs Group upped their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Jefferies Financial Group lifted their target price on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. BMO Capital Markets increased their price target 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. Finally, Stifel Nicolaus raised their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, International Business Machines has an average rating of “Hold” and a consensus target price of $203.06.

International Business Machines Price Performance

Shares of IBM traded down $0.68 during trading hours on Friday, hitting $232.20. 4,715,688 shares of the company were exchanged, compared to its average volume of 4,195,661. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $237.37. The company has a market cap of $213.30 billion, a price-to-earnings ratio of 26.30, a P/E/G ratio of 5.21 and a beta of 0.70. The firm’s fifty day moving average is $212.19 and its 200 day 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The firm had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.18 earnings per share. On average, equities analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 2.88%. International Business Machines’s dividend payout ratio 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.