Joule Financial LLC Trims Position in International Business Machines Co. (NYSE:IBM)

Joule Financial LLC reduced its position in International Business Machines Co. (NYSE:IBM) by 42.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,409 shares of the technology company’s stock after selling 4,058 shares during the period. Joule Financial LLC’s holdings in International Business Machines were worth $1,196,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in IBM. FPC Investment Advisory Inc. acquired a new stake in shares of International Business Machines during the 1st quarter worth $26,000. ESL Trust Services LLC acquired a new stake in International Business Machines during the first quarter worth about $28,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Business Machines in the 2nd quarter worth about $36,000. Financial Synergies Wealth Advisors Inc. lifted its stake in shares of International Business Machines by 164.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after purchasing an additional 123 shares in the last quarter. Finally, Wolff Wiese Magana LLC increased its position in International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM stock traded down $0.41 on Friday, hitting $232.47. 878,796 shares of the company’s stock traded hands, compared to its average volume of 4,176,244. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $237.37. The stock has a fifty day moving average of $211.38 and a 200-day moving average of $188.85. The stock has a market cap of $213.55 billion, a price-to-earnings ratio of 26.37, a P/E/G ratio of 5.21 and a beta of 0.70. 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 announced its earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating the consensus estimate of $2.16 by $0.27. The business had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. International Business Machines’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.18 earnings per share. On average, analysts forecast that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.87%. International Business Machines’s dividend payout ratio is currently 75.65%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Jefferies Financial Group boosted their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Stifel Nicolaus raised their price objective on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday. The Goldman Sachs Group upped their target price on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada lifted their price objective on shares of International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $203.06.

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.