Janney Capital Management LLC Sells 1,100 Shares of International Business Machines Co. (NYSE:IBM)

Janney Capital Management LLC decreased its stake in International Business Machines Co. (NYSE:IBM) by 1.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 101,394 shares of the technology company’s stock after selling 1,100 shares during the quarter. International Business Machines accounts for about 1.5% of Janney Capital Management LLC’s investment portfolio, making the stock its 9th largest holding. Janney Capital Management LLC’s holdings in International Business Machines were worth $22,416,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of IBM. Susquehanna Fundamental Investments LLC purchased a new position in shares of International Business Machines in the second quarter worth approximately $7,160,000. Smith Thornton Advisors LLC acquired a new position in International Business Machines in the 2nd quarter worth approximately $702,000. Retirement Planning Group LLC purchased a new position in International Business Machines during the 3rd quarter worth approximately $618,000. GAMMA Investing LLC raised its stake in International Business Machines by 42.4% during the 2nd quarter. GAMMA Investing LLC now owns 9,370 shares of the technology company’s stock valued at $1,621,000 after purchasing an additional 2,788 shares during the period. Finally, Anderson Hoagland & Co. purchased a new stake in shares of International Business Machines in the third quarter valued at $4,050,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of research analyst reports. Bank of America lifted 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. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Stifel Nicolaus raised their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Thursday, October 24th. Finally, DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Stock Performance

IBM opened at $208.25 on Friday. 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 company has a market cap of $192.56 billion, a PE ratio of 30.31, a price-to-earnings-growth ratio of 4.64 and a beta of 0.71. The stock has a 50-day moving average of $216.84 and a 200-day moving average of $191.29. International Business Machines Co. has a 52-week low of $144.84 and a 52-week high of $237.37.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the prior year, the business earned $2.20 earnings per share. The company’s revenue was up 1.5% on a year-over-year basis. As a group, equities research analysts forecast that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is 97.23%.

About International Business Machines

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.