International Business Machines Corporation $IBM Shares Sold by Trek Financial LLC

Trek Financial LLC lowered its position in International Business Machines Corporation (NYSE:IBM) by 75.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,455 shares of the technology company’s stock after selling 7,378 shares during the quarter. Trek Financial LLC’s holdings in International Business Machines were worth $540,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Woodmont Investment Counsel LLC increased its position in International Business Machines by 45.6% during the third quarter. Woodmont Investment Counsel LLC now owns 2,965 shares of the technology company’s stock worth $652,000 after buying an additional 928 shares in the last quarter. Traynor Capital Management Inc. raised its holdings in shares of International Business Machines by 4.5% in the third quarter. Traynor Capital Management Inc. now owns 2,113 shares of the technology company’s stock worth $465,000 after acquiring an additional 91 shares during the last quarter. Virtue Capital Management LLC raised its holdings in shares of International Business Machines by 15.2% in the third quarter. Virtue Capital Management LLC now owns 3,815 shares of the technology company’s stock worth $839,000 after acquiring an additional 504 shares during the last quarter. Hennessy Advisors Inc. lifted its position in shares of International Business Machines by 0.9% in the third quarter. Hennessy Advisors Inc. now owns 22,800 shares of the technology company’s stock valued at $5,014,000 after acquiring an additional 204 shares in the last quarter. Finally, Columbia Bank lifted its position in shares of International Business Machines by 16.8% in the third quarter. Columbia Bank now owns 3,640 shares of the technology company’s stock valued at $801,000 after acquiring an additional 524 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $300.00 price objective on shares of International Business Machines in a research note on Thursday, October 22nd. Susquehanna lifted their price objective on International Business Machines from $235.00 to $256.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 21st. Truist Financial set a $260.00 target price on shares of International Business Machines in a research note on Thursday, October 22nd. Wall Street Zen upgraded shares of International Business Machines from a “sell” rating to a “hold” rating in a report on Saturday, October 24th. Finally, Yorkville Ives assumed coverage on shares of International Business Machines in a research note on Monday, October 5th. They set an “outperform” rating and a $275.00 price target on the stock. Nineteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, International Business Machines has an average rating of “Moderate Buy” and a consensus price target of $266.12.

Insider Transactions at International Business Machines

In related news, SVP Robert Thomas sold 25,000 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president directly owned 47,800 shares in the company, valued at approximately $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.27% of the company’s stock.

International Business Machines Stock Down 1.1%

Shares of NYSE:IBM opened at $249.83 on Wednesday. The stock’s 50-day moving average price is $235.88 and its two-hundred day moving average price is $249.39. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 1.57. International Business Machines Corporation has a 12-month low of $199.19 and a 12-month high of $332.46. The firm has a market cap of $236.12 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 2.49 and a beta of 0.78.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 21st. The technology company reported $2.95 EPS for the quarter, beating the consensus estimate of $2.85 by $0.10. International Business Machines had a return on equity of 34.37% and a net margin of 15.99%. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $16.82 billion. During the same quarter in the previous year, the business earned $2.65 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. On average, research analysts forecast that International Business Machines Corporation will post 12.41 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Tuesday, November 10th will be issued a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Tuesday, November 10th. International Business Machines’s payout ratio is presently 57.63%.

International Business Machines Company Profile

International Business Machines Corporation (NYSE:IBM), commonly known as IBM, is a global technology and consulting company that helps organizations modernize their information technology and business operations. Its offerings include hybrid cloud solutions, artificial intelligence software and services, enterprise software, IT infrastructure, cybersecurity, data analytics, and technology consulting.

IBM provides products and services to businesses, governments, and other institutions across industries and regions worldwide.