International Business Machines Co. (NYSE:IBM) Shares Sold by Gilliland Jeter Wealth Management LLC

Gilliland Jeter Wealth Management LLC reduced its stake in International Business Machines Co. (NYSE:IBM) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,967 shares of the technology company’s stock after selling 99 shares during the period. Gilliland Jeter Wealth Management LLC’s holdings in International Business Machines were worth $877,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Narus Financial Partners LLC increased its position in shares of International Business Machines by 3.9% during the third quarter. Narus Financial Partners LLC now owns 2,063 shares of the technology company’s stock valued at $456,000 after acquiring an additional 77 shares during the last quarter. McClarren Financial Advisors Inc. increased its holdings in International Business Machines by 63.5% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 564 shares of the technology company’s stock valued at $125,000 after purchasing an additional 219 shares during the last quarter. Vest Financial LLC raised its position in International Business Machines by 10.3% in the third quarter. Vest Financial LLC now owns 290,556 shares of the technology company’s stock valued at $64,236,000 after purchasing an additional 27,089 shares during the period. West Branch Capital LLC raised its position in International Business Machines by 27.1% in the third quarter. West Branch Capital LLC now owns 915 shares of the technology company’s stock valued at $202,000 after purchasing an additional 195 shares during the period. Finally, OLD National Bancorp IN lifted its stake in International Business Machines by 3.0% during the third quarter. OLD National Bancorp IN now owns 12,852 shares of the technology company’s stock worth $2,841,000 after purchasing an additional 380 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on IBM shares. Evercore ISI lifted their price objective 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. Stifel Nicolaus boosted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets raised their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Morgan Stanley upped their target price on shares of International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, 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 research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $203.06.

International Business Machines Price Performance

Shares of NYSE IBM opened at $232.20 on Monday. The stock’s 50-day simple moving average is $212.19 and its 200-day simple moving average is $189.14. The firm has a market capitalization of $213.30 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $237.37. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the previous year, the firm earned $2.18 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts forecast that International Business Machines Co. will post 10.1 EPS for the current fiscal 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 dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

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.