Archer Investment Corp Trims Stock Position in International Business Machines Co. (NYSE:IBM)

Archer Investment Corp trimmed its stake in International Business Machines Co. (NYSE:IBM) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,561 shares of the technology company’s stock after selling 75 shares during the period. Archer Investment Corp’s holdings in International Business Machines were worth $1,008,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Empirical Finance LLC increased its position in shares of International Business Machines by 1.8% during the third quarter. Empirical Finance LLC now owns 31,240 shares of the technology company’s stock worth $6,907,000 after purchasing an additional 566 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its holdings in shares of International Business Machines by 6.8% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 15,912 shares of the technology company’s stock valued at $3,518,000 after acquiring an additional 1,017 shares during the period. CIBC Asset Management Inc raised its position in International Business Machines by 8.3% in the 3rd quarter. CIBC Asset Management Inc now owns 168,271 shares of the technology company’s stock valued at $37,201,000 after purchasing an additional 12,865 shares during the last quarter. Intellectus Partners LLC boosted its stake in International Business Machines by 3.3% during the 3rd quarter. Intellectus Partners LLC now owns 4,953 shares of the technology company’s stock worth $1,095,000 after purchasing an additional 158 shares during the period. Finally, Balboa Wealth Partners increased its stake in International Business Machines by 59.9% in the third quarter. Balboa Wealth Partners now owns 2,430 shares of the technology company’s stock valued at $537,000 after purchasing an additional 910 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.07% of the company’s stock.

International Business Machines Stock Performance

International Business Machines stock traded down $1.14 during trading hours on Friday, reaching $207.85. 315,109 shares of the company were exchanged, compared to its average volume of 4,220,661. International Business Machines Co. has a 12 month low of $152.13 and a 12 month high of $237.37. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The stock has a 50-day moving average of $218.70 and a 200 day moving average of $193.22. The firm has a market cap of $192.19 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 4.74 and a beta of 0.71.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.20 earnings per share. As a group, research analysts anticipate that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.21%. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on IBM shares. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Tuesday. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. Finally, Bernstein Bank raised their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $208.12.

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.