International Business Machines Co. (NYSE:IBM) Shares Sold by Traphagen Investment Advisors LLC

Traphagen Investment Advisors LLC cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 4.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,176 shares of the technology company’s stock after selling 153 shares during the quarter. Traphagen Investment Advisors LLC’s holdings in International Business Machines were worth $702,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Susquehanna Fundamental Investments LLC acquired a new stake in shares of International Business Machines in the 2nd quarter valued at approximately $7,160,000. Hodges Capital Management Inc. increased its holdings in shares of International Business Machines by 60.8% in the 1st quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock valued at $3,921,000 after purchasing an additional 7,768 shares in the last quarter. Burns J W & Co. Inc. NY lifted its stake in shares of International Business Machines by 10.8% in the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock valued at $491,000 after purchasing an additional 250 shares during the period. Smith Thornton Advisors LLC purchased a new stake in International Business Machines during the second quarter worth about $702,000. Finally, Retirement Planning Group LLC acquired a new position in International Business Machines during the third quarter worth about $618,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Trading Down 0.2 %

Shares of NYSE:IBM traded down $0.54 during midday trading on Tuesday, reaching $231.21. The company’s stock had a trading volume of 546,019 shares, compared to its average volume of 4,170,609. The business has a 50 day moving average price of $213.04 and a 200 day moving average price of $189.45. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $237.37. The firm has a market cap of $212.39 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. The company has a quick ratio of 1.08, a current ratio of 1.12 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. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the prior year, the company posted $2.18 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. Research analysts forecast that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 2.89%. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on IBM. Bernstein Bank boosted their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. UBS Group upped their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Royal Bank of Canada lifted their price target on International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. BMO Capital Markets lifted their target price on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Finally, Morgan Stanley raised their price objective on shares of International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $205.71.

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.