Lake Street Private Wealth LLC Trims Stock Position in International Business Machines Co. (NYSE:IBM)

Lake Street Private Wealth LLC reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 4.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,757 shares of the technology company’s stock after selling 356 shares during the quarter. Lake Street Private Wealth LLC’s holdings in International Business Machines were worth $1,715,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in IBM. FPC Investment Advisory Inc. purchased a new stake in shares of International Business Machines in the 1st quarter worth about $26,000. ESL Trust Services LLC purchased a new stake in shares of International Business Machines in the 1st quarter worth about $28,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of International Business Machines in the 2nd quarter worth about $36,000. Wolff Wiese Magana LLC grew its position in shares of International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after buying an additional 60 shares during the period. Finally, Briaud Financial Planning Inc grew its position in shares of International Business Machines by 54.3% in the 2nd quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock worth $49,000 after buying an additional 100 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Up 0.1 %

IBM traded up $0.26 during trading on Wednesday, reaching $232.51. The company had a trading volume of 1,009,285 shares, compared to its average volume of 4,168,041. The stock has a market cap of $213.58 billion, a P/E ratio of 26.36, a PEG ratio of 5.21 and a beta of 0.70. The business has a 50 day simple moving average of $213.86 and a 200-day simple moving average of $189.75. International Business Machines Co. has a 52 week low of $136.05 and a 52 week high of $237.37. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The company had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. International Business Machines’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the company earned $2.18 earnings per share. On average, equities analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 2.87%. International Business Machines’s dividend payout ratio is currently 75.65%.

Analyst Ratings Changes

IBM has been the topic of a number of analyst reports. BMO Capital Markets upped their price target on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Evercore ISI increased their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Jefferies Financial Group increased their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday. Finally, The Goldman Sachs Group increased their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Three 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.com, the stock has a consensus rating of “Hold” and a consensus target price of $205.71.

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.