Atlas Wealth LLC Lowers Stock Position in International Business Machines Co. (NYSE:IBM)

Atlas Wealth LLC decreased its position in International Business Machines Co. (NYSE:IBM) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,535 shares of the technology company’s stock after selling 67 shares during the period. International Business Machines accounts for 1.8% of Atlas Wealth LLC’s investment portfolio, making the stock its 13th biggest holding. Atlas Wealth LLC’s holdings in International Business Machines were worth $4,098,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hazlett Burt & Watson Inc. raised its stake in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares during the period. Hara Capital LLC bought a new position in International Business Machines in the 3rd quarter worth approximately $29,000. Capital Performance Advisors LLP bought a new stake in International Business Machines during the 3rd quarter valued at $43,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Business Machines in the second quarter valued at $36,000. Finally, Wolff Wiese Magana LLC lifted its holdings 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 worth $38,000 after purchasing an additional 60 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $227.41 on Monday. The company has a market capitalization of $210.27 billion, a PE ratio of 33.10, a PEG ratio of 5.11 and a beta of 0.71. The business has a fifty day moving average price of $220.63 and a 200-day moving average price of $197.69. International Business Machines Co. has a 1-year low of $156.89 and a 1-year 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.

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. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the prior year, the firm posted $2.20 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, equities analysts expect that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

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 $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.94%. International Business Machines’s dividend payout ratio is presently 97.23%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IBM. UBS Group increased their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Morgan Stanley lowered their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Stifel Nicolaus raised their price objective 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 increased 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. Finally, StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $208.12.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by insiders.

International Business Machines Company 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.