Frisch Financial Group Inc. Sells 356 Shares of International Business Machines Co. (NYSE:IBM)

Frisch Financial Group Inc. trimmed its position in International Business Machines Co. (NYSE:IBM) by 18.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,530 shares of the technology company’s stock after selling 356 shares during the quarter. Frisch Financial Group Inc.’s holdings in International Business Machines were worth $265,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Arden Trust Co lifted its holdings in shares of International Business Machines by 2.8% in the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock worth $377,000 after buying an additional 54 shares during the period. Armbruster Capital Management Inc. lifted its holdings in shares of International Business Machines by 2.3% in the 2nd quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock worth $432,000 after buying an additional 56 shares during the period. CVA Family Office LLC lifted its holdings in shares of International Business Machines by 3.3% in the 2nd quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock worth $311,000 after buying an additional 57 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in shares of International Business Machines by 0.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after buying an additional 58 shares during the period. Finally, Peddock Capital Advisors LLC lifted its holdings in shares of International Business Machines by 0.6% in the 2nd quarter. Peddock Capital Advisors LLC now owns 10,040 shares of the technology company’s stock worth $1,736,000 after buying an additional 58 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the subject of several research reports. The Goldman Sachs Group initiated coverage on International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price for the company. Jefferies Financial Group upped their price objective on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Evercore ISI upped their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Royal Bank of Canada upped their price objective on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, BMO Capital Markets increased their price target on 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. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $188.60.

International Business Machines Stock Up 1.1 %

Shares of IBM stock opened at $217.18 on Tuesday. The stock has a market cap of $200.06 billion, a P/E ratio of 24.60, a P/E/G ratio of 4.67 and a beta of 0.70. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $217.90. The stock has a 50 day moving average of $193.62 and a 200 day moving average of $183.60. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.18 earnings per share. As a group, sell-side analysts expect that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

International Business Machines 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.