Leelyn Smith LLC Decreases Holdings in International Business Machines Co. (NYSE:IBM)

Leelyn Smith LLC lowered its stake in shares of International Business Machines Co. (NYSE:IBM) by 0.9% in the third quarter, Holdings Channel reports. The firm owned 16,399 shares of the technology company’s stock after selling 157 shares during the period. Leelyn Smith LLC’s holdings in International Business Machines were worth $3,625,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Nwam LLC purchased a new position in shares of International Business Machines in the third quarter valued at approximately $2,139,000. Meridian Wealth Management LLC acquired a new position in International Business Machines in the 3rd quarter valued at $12,802,000. GM Advisory Group LLC lifted its holdings in International Business Machines by 1.1% in the 3rd quarter. GM Advisory Group LLC now owns 5,214 shares of the technology company’s stock valued at $1,153,000 after purchasing an additional 58 shares in the last quarter. Allen Capital Group LLC boosted its stake in International Business Machines by 1.9% during the 3rd quarter. Allen Capital Group LLC now owns 22,246 shares of the technology company’s stock worth $4,918,000 after purchasing an additional 408 shares during the last quarter. Finally, Raymond James Trust N.A. grew its holdings in shares of International Business Machines by 17.1% during the third quarter. Raymond James Trust N.A. now owns 58,695 shares of the technology company’s stock worth $12,976,000 after buying an additional 8,552 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.07% of the company’s stock.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $223.02 on Friday. International Business Machines Co. has a 12 month low of $153.92 and a 12 month high of $237.37. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The stock has a market capitalization of $206.21 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 4.99 and a beta of 0.71. The firm’s fifty day simple moving average is $219.45 and its 200-day simple moving average is $195.21.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the previous year, the company posted $2.20 EPS. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. As a group, equities analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.00%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Analyst Ratings Changes

A number of research firms have commented on IBM. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a report on Wednesday, October 2nd. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Bernstein Bank upped their target price on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. The Goldman Sachs Group lifted their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Morgan Stanley dropped their price objective on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $208.12.

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.