Beaird Harris Wealth Management LLC Has $207,000 Stock Holdings in International Business Machines Co. (NYSE:IBM)

Beaird Harris Wealth Management LLC reduced its holdings in International Business Machines Co. (NYSE:IBM) by 24.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 937 shares of the technology company’s stock after selling 299 shares during the period. Beaird Harris Wealth Management LLC’s holdings in International Business Machines were worth $207,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Meeder Asset Management Inc. increased its position in International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in International Business Machines in the second quarter valued at approximately $7,160,000. Philip James Wealth Mangement LLC bought a new position in shares of International Business Machines during the 3rd quarter worth approximately $5,117,000. Aljian Capital Management LLC acquired a new stake in shares of International Business Machines during the 3rd quarter worth approximately $611,000. Finally, Focused Wealth Management Inc lifted its position in shares of International Business Machines by 52.2% during the 3rd quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock valued at $2,504,000 after acquiring an additional 3,887 shares during the period. 58.96% of the stock is owned by institutional investors.

Insider Activity

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

Analysts Set New Price Targets

A number of research firms have commented on IBM. Morgan Stanley reduced their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. UBS Group boosted their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Bernstein Bank increased their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Bank of America upped their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group lifted their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $208.12.

International Business Machines Trading Up 0.9 %

NYSE:IBM opened at $232.26 on Friday. International Business Machines Co. has a 12 month low of $157.88 and a 12 month high of $239.35. 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 firm’s 50 day moving average is $222.57 and its 200 day moving average is $201.12. The stock has a market capitalization of $214.76 billion, a PE ratio of 33.81, a price-to-earnings-growth ratio of 5.17 and a beta of 0.73.

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 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 business’s revenue 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. Sell-side analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were paid a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.88%. International Business Machines’s payout ratio is 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.