Acorn Wealth Advisors LLC Sells 240 Shares of International Business Machines Co. (NYSE:IBM)

Acorn Wealth Advisors LLC trimmed its position in shares of International Business Machines Co. (NYSE:IBM) by 4.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,866 shares of the technology company’s stock after selling 240 shares during the period. Acorn Wealth Advisors LLC’s holdings in International Business Machines were worth $1,076,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI acquired a new position in International Business Machines in the first quarter worth about $2,120,000. Waverly Advisors LLC lifted its position in shares of International Business Machines by 59.1% during the 1st quarter. Waverly Advisors LLC now owns 30,242 shares of the technology company’s stock worth $5,775,000 after buying an additional 11,233 shares during the period. Janus Henderson Group PLC boosted its stake in International Business Machines by 17.1% in the 1st quarter. Janus Henderson Group PLC now owns 717,202 shares of the technology company’s stock valued at $136,946,000 after buying an additional 104,771 shares in the last quarter. Ancora Advisors LLC boosted its stake in International Business Machines by 2.3% in the 1st quarter. Ancora Advisors LLC now owns 8,214 shares of the technology company’s stock valued at $1,569,000 after buying an additional 183 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its stake in International Business Machines by 13.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 94,887 shares of the technology company’s stock worth $18,120,000 after buying an additional 11,497 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on IBM shares. Bank of America raised their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Jefferies Financial Group boosted their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. Morgan Stanley dropped their price objective on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Finally, BMO Capital Markets increased their price objective on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $208.12.

International Business Machines Trading Up 0.1 %

IBM stock traded up $0.15 during midday trading on Monday, hitting $223.12. 653,630 shares of the company’s stock were exchanged, compared to its average volume of 4,222,361. International Business Machines Co. has a one year low of $154.75 and a one year high of $237.37. The stock’s fifty day moving average price is $219.45 and its 200-day moving average price is $195.57. The company has a market cap of $206.31 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 5.01 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

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, 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 business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the prior year, the business earned $2.20 EPS. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 2.99%. International Business Machines’s dividend payout ratio is currently 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.