Cassady Schiller Wealth Management LLC Has $139,000 Stake in International Business Machines Co. (NYSE:IBM)

Cassady Schiller Wealth Management LLC cut its position in International Business Machines Co. (NYSE:IBM) by 15.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 627 shares of the technology company’s stock after selling 115 shares during the quarter. Cassady Schiller Wealth Management LLC’s holdings in International Business Machines were worth $139,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in IBM. Legal & General Group Plc lifted its stake in International Business Machines by 4.1% during the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after purchasing an additional 330,694 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after buying an additional 444,698 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in International Business Machines by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock valued at $829,431,000 after buying an additional 304,390 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after acquiring an additional 2,118,165 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in International Business Machines by 20,324.5% during the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after acquiring an additional 2,702,340 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

IBM stock opened at $204.99 on Friday. International Business Machines Co. has a 1-year low of $152.13 and a 1-year 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 price of $218.79 and a 200-day moving average price of $193.67. The firm has a market cap of $189.54 billion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 4.60 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. The firm 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 company’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.20 earnings per share. As a group, equities research analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The business 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. This represents a $6.68 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Insider Buying and Selling at International Business Machines

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 transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on IBM. BMO Capital Markets boosted their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. UBS Group boosted 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. Bank of America increased their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. Finally, Morgan Stanley cut their target price on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $208.12.

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.