Wealth Alliance Advisory Group LLC Sells 3,301 Shares of International Business Machines Co. (NYSE:IBM)

Wealth Alliance Advisory Group LLC trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 59.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,242 shares of the technology company’s stock after selling 3,301 shares during the quarter. Wealth Alliance Advisory Group LLC’s holdings in International Business Machines were worth $496,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. FPC Investment Advisory Inc. bought a new position in International Business Machines in the 1st quarter worth about $26,000. ESL Trust Services LLC bought a new position in International Business Machines in the first quarter worth approximately $28,000. Financial Synergies Wealth Advisors Inc. increased its holdings in International Business Machines by 164.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after purchasing an additional 123 shares during the period. Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines during the 2nd quarter valued at $36,000. Finally, Wolff Wiese Magana LLC lifted its holdings in shares of International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after buying an additional 60 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IBM. Royal Bank of Canada lifted their price objective on International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Bernstein Bank upped their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. BMO Capital Markets boosted their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Stifel Nicolaus increased their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley lifted their price objective on shares of International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Thursday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average price target of $203.06.

International Business Machines Price Performance

NYSE:IBM opened at $232.20 on Friday. The firm’s fifty day moving average is $212.19 and its two-hundred day moving average is $189.15. The firm has a market cap of $213.30 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a one year low of $135.87 and a one year high of $237.37. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12.

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

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.88%. The ex-dividend date was Friday, August 9th. International Business Machines’s payout ratio is presently 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.