Winthrop Advisory Group LLC Reduces Stock Position in International Business Machines Co. (NYSE:IBM)

Winthrop Advisory Group LLC decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 1.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 6,153 shares of the technology company’s stock after selling 62 shares during the period. Winthrop Advisory Group LLC’s holdings in International Business Machines were worth $1,360,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of IBM. Susquehanna Fundamental Investments LLC purchased a new stake in shares of International Business Machines during the second quarter worth about $7,160,000. Focused Wealth Management Inc boosted its holdings in shares of International Business Machines by 52.2% during the third quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock worth $2,504,000 after purchasing an additional 3,887 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of International Business Machines by 4.5% in the third quarter. QRG Capital Management Inc. now owns 140,185 shares of the technology company’s stock valued at $30,992,000 after purchasing an additional 6,004 shares during the period. Smith Thornton Advisors LLC purchased a new position in International Business Machines during the second quarter worth about $702,000. Finally, F M Investments LLC boosted its stake in International Business Machines by 39.6% in the 3rd quarter. F M Investments LLC now owns 61,938 shares of the technology company’s stock worth $13,696,000 after buying an additional 17,554 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Trading Up 0.1 %

Shares of IBM opened at $213.76 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 1-year low of $145.28 and a 1-year high of $237.37. The stock has a market capitalization of $197.65 billion, a P/E ratio of 31.11, a P/E/G ratio of 4.64 and a beta of 0.71. The business’s 50-day moving average price is $217.49 and its 200 day moving average price is $191.86.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the previous year, the business earned $2.20 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. Analysts expect that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.13%. International Business Machines’s dividend payout ratio is presently 97.23%.

Analysts Set New Price Targets

Several research firms recently issued reports on IBM. The Goldman Sachs Group raised their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Jefferies Financial Group boosted their price target on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Stifel Nicolaus upped their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. 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, October 24th. Finally, Bernstein Bank increased their target price on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, International Business Machines has an average rating of “Hold” and a consensus price target of $208.12.

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.