Harvest Portfolios Group Inc. Reduces Stock Position in International Business Machines Co. (NYSE:IBM)

Harvest Portfolios Group Inc. lessened its holdings in shares of International Business Machines Co. (NYSE:IBM) by 15.0% during the third quarter, Holdings Channel reports. The firm owned 2,677 shares of the technology company’s stock after selling 471 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in International Business Machines were worth $592,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines during the first quarter valued at approximately $26,000. ESL Trust Services LLC purchased a new stake in shares of International Business Machines in the 1st quarter worth about $28,000. Hazlett Burt & Watson Inc. boosted its stake in shares of International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares in the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Business Machines during the second quarter valued at about $36,000. Finally, Wolff Wiese Magana LLC raised its stake in International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after buying an additional 60 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 2.9 %

NYSE:IBM opened at $213.58 on Thursday. The company has a 50 day simple moving average of $217.49 and a two-hundred day simple moving average of $191.86. The company has a market cap of $197.49 billion, a PE ratio of 31.09, a price-to-earnings-growth ratio of 4.64 and a beta of 0.71. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 12 month low of $145.28 and a 12 month high of $237.37.

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

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.13%. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. The Goldman Sachs Group upped their target price on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. 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 note on Wednesday, October 16th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Bernstein Bank boosted their target price on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Finally, Evercore ISI increased their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $208.12.

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.