WealthPLAN Partners LLC Reduces Holdings in International Business Machines Co. (NYSE:IBM)

WealthPLAN Partners LLC reduced its position in International Business Machines Co. (NYSE:IBM) by 19.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 23,678 shares of the technology company’s stock after selling 5,571 shares during the period. WealthPLAN Partners LLC’s holdings in International Business Machines were worth $5,235,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in IBM. Hazlett Burt & Watson Inc. raised its position 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 purchasing an additional 116 shares during the last quarter. Hara Capital LLC purchased a new stake in shares of International Business Machines in the third quarter valued at about $29,000. ESL Trust Services LLC acquired a new stake in shares of International Business Machines during the first quarter worth about $28,000. Capital Performance Advisors LLP purchased a new position in shares of International Business Machines during the third quarter worth about $43,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines in the 2nd quarter valued at about $36,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IBM has been the subject of a number of recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. UBS Group lifted their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Evercore ISI boosted their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Stifel Nicolaus raised their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $208.12.

International Business Machines Stock Performance

Shares of IBM stock opened at $213.62 on Tuesday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The stock has a market cap of $197.52 billion, a PE ratio of 31.09, a P/E/G ratio of 4.80 and a beta of 0.71. International Business Machines Co. has a 1 year low of $147.35 and a 1 year high of $237.37. The stock has a fifty day moving average price of $218.02 and a 200 day moving average price of $192.36.

International Business Machines (NYSE:IBM) last posted its 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. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. International Business Machines’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.20 EPS. Sell-side analysts forecast that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

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

Insider Activity

In related 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 transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.07% of the company’s stock.

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.