International Business Machines Co. (NYSE:IBM) is Corrado Advisors LLC’s 7th Largest Position

Corrado Advisors LLC lowered its position in International Business Machines Co. (NYSE:IBM) by 4.6% in the third quarter, HoldingsChannel reports. The firm owned 12,854 shares of the technology company’s stock after selling 619 shares during the period. International Business Machines makes up about 1.8% of Corrado Advisors LLC’s portfolio, making the stock its 7th biggest holding. Corrado Advisors LLC’s holdings in International Business Machines were worth $2,842,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of IBM. FPC Investment Advisory Inc. purchased a new stake in shares of International Business Machines in the first quarter valued at about $26,000. ESL Trust Services LLC acquired a new position in International Business Machines in the first quarter valued at about $28,000. Hazlett Burt & Watson Inc. lifted its position in International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after buying an additional 116 shares during the last quarter. Hara Capital LLC acquired a new position in International Business Machines in the third quarter valued at about $29,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines in the second quarter valued at about $36,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IBM. Morgan Stanley decreased their target price on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Thursday, October 24th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Finally, Evercore ISI raised their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus target price of $208.12.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.07% of the company’s stock.

International Business Machines Stock Down 0.0 %

Shares of NYSE:IBM opened at $213.66 on Friday. The company has a market capitalization of $197.56 billion, a PE ratio of 31.10, a P/E/G ratio of 4.80 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 twelve month low of $145.28 and a twelve month high of $237.37. The firm has a 50 day simple moving average of $218.02 and a 200-day simple moving average of $192.24.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.20 EPS. On average, equities analysts predict that International Business Machines Co. will post 10.11 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be issued a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.13%. International Business Machines’s 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.