L. Roy Papp & Associates LLP Sells 453 Shares of International Business Machines Co. (NYSE:IBM)

L. Roy Papp & Associates LLP lowered its stake in International Business Machines Co. (NYSE:IBM) by 6.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,177 shares of the technology company’s stock after selling 453 shares during the period. L. Roy Papp & Associates LLP’s holdings in International Business Machines were worth $1,366,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. FPC Investment Advisory Inc. purchased a new stake in shares of International Business Machines during the first quarter valued at approximately $26,000. ESL Trust Services LLC purchased a new stake in International Business Machines during the 1st quarter valued at $28,000. Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines in the 2nd quarter worth $36,000. Wolff Wiese Magana LLC increased its position in shares of International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after acquiring an additional 60 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of International Business Machines by 47.2% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 240 shares of the technology company’s stock valued at $53,000 after acquiring an additional 77 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 1.7 %

International Business Machines stock traded down $3.72 during trading hours on Friday, hitting $214.67. The stock had a trading volume of 8,482,235 shares, compared to its average volume of 3,480,485. The stock’s 50-day moving average price is $215.58 and its 200-day moving average price is $190.43. The stock has a market capitalization of $197.74 billion, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 4.84 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 quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last released 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. The business had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.20 EPS. Equities research analysts anticipate that International Business Machines Co. will post 10.13 EPS for the current fiscal 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 issued a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 3.11%. International Business Machines’s payout ratio is 73.65%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IBM. UBS Group boosted their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Stifel Nicolaus boosted their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Bernstein Bank raised their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. BMO Capital Markets boosted their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research report on Thursday. Three 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $208.12.

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.