Financial Counselors Inc. Sells 912 Shares of International Business Machines Co. (NYSE:IBM)

Financial Counselors Inc. cut its holdings in International Business Machines Co. (NYSE:IBM) by 1.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 64,270 shares of the technology company’s stock after selling 912 shares during the period. Financial Counselors Inc.’s holdings in International Business Machines were worth $14,209,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Meeder Asset Management Inc. raised its position in shares of International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after acquiring an additional 166 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of International Business Machines in the 2nd quarter worth about $7,160,000. Philip James Wealth Mangement LLC bought a new position in shares of International Business Machines in the 3rd quarter worth about $5,117,000. Aljian Capital Management LLC bought a new position in shares of International Business Machines in the 3rd quarter worth about $611,000. Finally, Focused Wealth Management Inc raised its position in shares of International Business Machines by 52.2% in the 3rd quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock worth $2,504,000 after acquiring an additional 3,887 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on IBM. Morgan Stanley reduced their target price on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Evercore ISI raised their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Jefferies Financial Group raised their target price on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. Finally, Bank of America raised their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $208.12.

International Business Machines Trading Down 0.8 %

Shares of IBM stock opened at $226.92 on Friday. The company’s fifty day simple moving average is $220.43 and its two-hundred day simple moving average is $196.86. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. International Business Machines Co. has a 1 year low of $154.86 and a 1 year high of $237.37. The stock has a market capitalization of $209.82 billion, a price-to-earnings ratio of 33.03, a PEG ratio of 5.09 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the previous year, the firm posted $2.20 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, analysts anticipate that International Business Machines Co. will post 10.12 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. Stockholders of record on Tuesday, November 12th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.94%. International Business Machines’s payout ratio is currently 97.23%.

About International Business Machines

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.