Resources Management Corp CT ADV Cuts Stock Position in International Business Machines Co. (NYSE:IBM)

Resources Management Corp CT ADV trimmed its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 26,626 shares of the technology company’s stock after selling 260 shares during the period. Resources Management Corp CT ADV’s holdings in International Business Machines were worth $5,886,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. LRI Investments LLC grew its stake in International Business Machines by 7.5% during the 3rd quarter. LRI Investments LLC now owns 4,416 shares of the technology company’s stock worth $923,000 after purchasing an additional 310 shares in the last quarter. Drucker Wealth 3.0 LLC grew its stake in International Business Machines by 24.7% during the 3rd quarter. Drucker Wealth 3.0 LLC now owns 1,905 shares of the technology company’s stock worth $421,000 after purchasing an additional 377 shares in the last quarter. SGL Investment Advisors Inc. acquired a new position in International Business Machines during the 3rd quarter worth $4,535,000. EWA LLC grew its stake in International Business Machines by 6.6% during the 3rd quarter. EWA LLC now owns 1,174 shares of the technology company’s stock worth $245,000 after purchasing an additional 73 shares in the last quarter. Finally, Roffman Miller Associates Inc. PA grew its stake in International Business Machines by 19.1% during the 3rd quarter. Roffman Miller Associates Inc. PA now owns 7,614 shares of the technology company’s stock worth $1,683,000 after purchasing an additional 1,222 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Down 3.4 %

Shares of NYSE IBM opened at $230.02 on Tuesday. The stock has a market cap of $212.69 billion, a PE ratio of 33.48, a price-to-earnings-growth ratio of 5.34 and a beta of 0.73. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 52-week low of $157.88 and a 52-week high of $239.35. The business has a 50-day moving average price of $221.92 and a 200 day moving average price of $200.27.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same period last year, the firm earned $2.20 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities research analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 2.90%. International Business Machines’s payout ratio is 97.23%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on IBM shares. Bernstein Bank boosted their target price 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. BMO Capital Markets upped their price objective on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. UBS Group upped their price objective on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. Finally, Morgan Stanley lowered their price objective on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average target price of $208.12.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by insiders.

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.