Intergy Private Wealth LLC Sells 181 Shares of International Business Machines Co. (NYSE:IBM)

Intergy Private Wealth LLC trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 3.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,437 shares of the technology company’s stock after selling 181 shares during the period. Intergy Private Wealth LLC’s holdings in International Business Machines were worth $981,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in International Business Machines by 6.7% in the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after purchasing an additional 5,546,855 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after buying an additional 2,118,165 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in International Business Machines by 306.3% during the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after buying an additional 1,056,759 shares during the last quarter. Strategic Financial Concepts LLC raised its position in International Business Machines by 12,282.2% during the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock worth $817,000 after acquiring an additional 468,567 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in International Business Machines by 6.4% in the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after acquiring an additional 444,698 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IBM. Morgan Stanley raised their target price on shares of International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a research note on Thursday. Evercore ISI upped their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Jefferies Financial Group lifted their target price on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. BMO Capital Markets increased their price target on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Finally, Bank of America raised their price target on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average price target of $203.06.

International Business Machines Price Performance

Shares of NYSE:IBM traded down $0.44 during trading on Friday, reaching $232.44. 929,736 shares of the company traded hands, compared to its average volume of 4,176,928. The firm has a market capitalization of $213.52 billion, a PE ratio of 26.22, a PEG ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a 52 week low of $135.87 and a 52 week 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. The company’s 50 day moving average is $211.38 and its two-hundred day moving average is $188.85.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.27. The business had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. International Business Machines’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.18 earnings per share. As a group, sell-side analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 2.87%. International Business Machines’s dividend payout ratio is 75.65%.

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.