Lazari Capital Management Inc. Has $417,000 Holdings in International Business Machines Co. (NYSE:IBM)

Lazari Capital Management Inc. cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 4.4% during the third quarter, HoldingsChannel.com reports. The firm owned 1,886 shares of the technology company’s stock after selling 87 shares during the period. Lazari Capital Management Inc.’s holdings in International Business Machines were worth $417,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of IBM. FPC Investment Advisory Inc. bought a new stake in International Business Machines in the 1st quarter valued at $26,000. ESL Trust Services LLC bought a new stake in shares of International Business Machines during the first quarter worth $28,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines in the 2nd quarter valued at about $36,000. Wolff Wiese Magana LLC increased its holdings in shares of International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after purchasing an additional 60 shares in the last quarter. Finally, Briaud Financial Planning Inc raised its position in shares of International Business Machines by 54.3% during the second quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock worth $49,000 after acquiring an additional 100 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Up 0.2 %

IBM opened at $232.25 on Wednesday. The stock’s fifty day simple moving average is $213.86 and its 200 day simple moving average is $189.75. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $237.37. The stock has a market cap of $213.35 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last posted its 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 company 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 quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.18 EPS. As a group, research analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.88%. The ex-dividend date was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

Analysts Set New Price Targets

IBM has been the topic of several analyst reports. Royal Bank of Canada increased their price objective on shares of International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a report on Wednesday, October 2nd. Evercore ISI lifted their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Stifel Nicolaus upped their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. 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 MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus target price of $205.71.

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.