Independent Advisor Alliance Cuts Stock Holdings in International Business Machines Co. (NYSE:IBM)

Independent Advisor Alliance lowered its stake in International Business Machines Co. (NYSE:IBM) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,637 shares of the technology company’s stock after selling 1,774 shares during the period. Independent Advisor Alliance’s holdings in International Business Machines were worth $12,079,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Hazlett Burt & Watson Inc. boosted its holdings in shares of International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares during the period. Hara Capital LLC bought a new stake in shares of International Business Machines in the 3rd quarter worth approximately $29,000. Capital Performance Advisors LLP bought a new stake in shares of International Business Machines in the 3rd quarter worth approximately $43,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of International Business Machines during the second quarter valued at approximately $36,000. Finally, Wolff Wiese Magana LLC lifted 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 acquiring an additional 60 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on IBM. Evercore ISI upped their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. The Goldman Sachs Group upped their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. Finally, Bernstein Bank boosted their target price on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $208.12.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.07% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM opened at $222.97 on Monday. The firm has a market capitalization of $206.17 billion, a P/E ratio of 32.46, a PEG ratio of 5.01 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. International Business Machines Co. has a one year low of $153.92 and a one year high of $237.37. The business has a fifty day moving average of $219.45 and a 200 day moving average of $195.57.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $15.08 billion. During the same period in the previous year, the company posted $2.20 EPS. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

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.