Blackston Financial Advisory Group LLC Lowers Stock Holdings in International Business Machines Co. (NYSE:IBM)

Blackston Financial Advisory Group LLC lowered its stake in International Business Machines Co. (NYSE:IBM) by 31.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,581 shares of the technology company’s stock after selling 732 shares during the period. Blackston Financial Advisory Group LLC’s holdings in International Business Machines were worth $350,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. FPC Investment Advisory Inc. purchased a new stake in shares of International Business Machines in the first quarter worth $26,000. ESL Trust Services LLC bought a new position in International Business Machines in the 1st quarter worth about $28,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in International Business Machines during the 2nd quarter valued at about $36,000. Wolff Wiese Magana LLC increased its stake in International Business Machines by 37.0% during 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. Finally, Briaud Financial Planning Inc raised its holdings in International Business Machines by 54.3% in 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 during the last quarter. Institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on IBM shares. BMO Capital Markets increased their price target on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday. Jefferies Financial Group increased their target price on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Thursday. Morgan Stanley lowered their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Bank of America lifted their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Down 0.5 %

Shares of IBM stock opened at $217.40 on Friday. The company has a 50 day simple moving average of $214.67 and a two-hundred day simple moving average of $190.05. The stock has a market cap of $199.70 billion, a P/E ratio of 24.72, a P/E/G ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a 12 month low of $141.58 and a 12 month high of $237.37. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. International Business Machines’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.20 EPS. On average, research analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.07%. International Business Machines’s payout ratio is currently 75.65%.

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.