International Business Machines Co. (NYSE:IBM) Stock Position Lowered by Empire Financial Management Company LLC

Empire Financial Management Company LLC decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 9.1% during the third quarter, HoldingsChannel reports. The fund owned 30,096 shares of the technology company’s stock after selling 3,011 shares during the quarter. International Business Machines comprises about 2.0% of Empire Financial Management Company LLC’s investment portfolio, making the stock its 6th biggest holding. Empire Financial Management Company LLC’s holdings in International Business Machines were worth $6,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its position in shares of International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after purchasing an additional 1,200,803 shares in the last quarter. Legal & General Group Plc grew its position in International Business Machines by 4.1% during the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after buying an additional 330,694 shares in the last quarter. Ameriprise Financial Inc. increased its stake in International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after acquiring an additional 444,698 shares during the last quarter. FMR LLC increased its stake in International Business Machines by 6.0% in the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after acquiring an additional 294,276 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of International Business Machines by 6.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock valued at $829,431,000 after acquiring an additional 304,390 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on IBM. Jefferies Financial Group upped their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. BMO Capital Markets increased their price target on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a report on Wednesday, October 2nd. Evercore ISI increased their target price 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. Finally, Morgan Stanley dropped their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Three 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $208.12.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction 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 directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.07% of the company’s stock.

International Business Machines Stock Up 0.8 %

Shares of NYSE:IBM opened at $231.76 on Wednesday. International Business Machines Co. has a 1 year low of $157.88 and a 1 year high of $239.35. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The stock’s 50-day moving average is $221.92 and its 200 day moving average is $200.27. The company has a market cap of $214.30 billion, a PE ratio of 33.74, a P/E/G ratio of 5.16 and a beta of 0.73.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 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 company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter last year, the firm posted $2.20 earnings per share. The firm’s revenue was up 1.5% on a year-over-year basis. Sell-side analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were given a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.88%. International Business Machines’s dividend payout ratio is presently 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.