International Business Machines Corporation $IBM Shares Sold by Neville Rodie & Shaw Inc.

Neville Rodie & Shaw Inc. cut its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 3.7% during the third quarter, HoldingsChannel.com reports. The fund owned 69,394 shares of the technology company’s stock after selling 2,653 shares during the quarter. International Business Machines makes up 1.1% of Neville Rodie & Shaw Inc.’s holdings, making the stock its 25th largest position. Neville Rodie & Shaw Inc.’s holdings in International Business Machines were worth $15,262,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Friday Financial raised its position in International Business Machines by 1.9% during the 2nd quarter. Friday Financial now owns 1,903 shares of the technology company’s stock worth $583,000 after buying an additional 35 shares during the last quarter. Trinity Wealth Management LLC lifted its holdings in shares of International Business Machines by 2.3% in the 2nd quarter. Trinity Wealth Management LLC now owns 1,695 shares of the technology company’s stock valued at $477,000 after buying an additional 38 shares during the period. Pettinga Financial Advisors LLC boosted its stake in shares of International Business Machines by 3.6% in the second quarter. Pettinga Financial Advisors LLC now owns 1,090 shares of the technology company’s stock valued at $307,000 after buying an additional 38 shares in the last quarter. HHM Wealth Advisors LLC grew its holdings in International Business Machines by 4.6% during the second quarter. HHM Wealth Advisors LLC now owns 928 shares of the technology company’s stock worth $261,000 after acquiring an additional 41 shares during the period. Finally, Insight Advisors LLC PA grew its holdings in International Business Machines by 0.8% during the fourth quarter. Insight Advisors LLC PA now owns 5,255 shares of the technology company’s stock worth $1,557,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total value of $5,758,000.00. Following the completion of the transaction, the senior vice president directly owned 47,800 shares of the company’s stock, valued at $11,009,296. This represents a 34.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.27% of the company’s stock.

International Business Machines Trading Down 0.7%

Shares of IBM traded down $1.59 during mid-day trading on Monday, hitting $221.05. The company had a trading volume of 1,443,143 shares, compared to its average volume of 7,565,029. International Business Machines Corporation has a 1-year low of $199.19 and a 1-year high of $332.46. The business’s 50-day simple moving average is $232.27 and its 200-day simple moving average is $244.89. The stock has a market cap of $208.26 billion, a PE ratio of 19.62, a P/E/G ratio of 2.12 and a beta of 0.73. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, hitting the consensus estimate of $2.93. The business had revenue of $17.16 billion for the quarter, compared to analyst estimates of $17.46 billion. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%.The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the company posted $2.80 EPS. Sell-side analysts forecast that International Business Machines Corporation will post 12.33 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 10th were paid a $1.69 dividend. The ex-dividend date was Monday, August 10th. This represents a $6.76 annualized dividend and a dividend yield of 3.1%. International Business Machines’s dividend payout ratio is 59.98%.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of recent analyst reports. BMO Capital Markets lowered their price target on shares of International Business Machines from $270.00 to $230.00 and set a “market perform” rating on the stock in a research note on Thursday, July 23rd. Craig Hallum assumed coverage on shares of International Business Machines in a report on Wednesday, August 19th. They set a “buy” rating on the stock. Argus lowered their target price on shares of International Business Machines from $360.00 to $280.00 and set a “buy” rating on the stock in a research report on Thursday, July 16th. Sanford C. Bernstein decreased their price target on International Business Machines from $280.00 to $230.00 and set a “market perform” rating on the stock in a research note on Thursday, July 23rd. Finally, Susquehanna raised their price objective on International Business Machines from $225.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, August 31st. Eighteen investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $253.52.

International Business Machines Company Profile

International Business Machines Corporation (NYSE:IBM), commonly known as IBM, is a global technology company that provides hybrid cloud, artificial intelligence, software, consulting and infrastructure solutions. Its offerings help businesses and government organizations manage data, modernize applications, automate processes and improve cybersecurity.

IBM’s portfolio includes the Red Hat hybrid cloud platform, the watsonx suite of artificial intelligence and data tools, consulting services, and enterprise software for areas such as automation, application management, security and asset management.