International Business Machines Co. (NYSE:IBM) Shares Sold by Greystone Financial Group LLC

Greystone Financial Group LLC decreased its holdings in International Business Machines Co. (NYSE:IBM) by 15.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,287 shares of the technology company’s stock after selling 8,023 shares during the quarter. International Business Machines makes up approximately 1.7% of Greystone Financial Group LLC’s holdings, making the stock its 22nd largest holding. Greystone Financial Group LLC’s holdings in International Business Machines were worth $9,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of IBM. Susquehanna Fundamental Investments LLC acquired a new position in shares of International Business Machines during the 2nd quarter valued at $7,160,000. Hodges Capital Management Inc. raised its stake in shares of International Business Machines by 60.8% during the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock valued at $3,921,000 after purchasing an additional 7,768 shares during the period. Burns J W & Co. Inc. NY lifted its position in shares of International Business Machines by 10.8% during the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock worth $491,000 after purchasing an additional 250 shares in the last quarter. Smith Thornton Advisors LLC acquired a new stake in International Business Machines during the 2nd quarter valued at $702,000. Finally, Retirement Planning Group LLC purchased a new stake in International Business Machines during the 3rd quarter worth $618,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of NYSE IBM opened at $232.75 on Thursday. International Business Machines Co. has a 1-year low of $136.05 and a 1-year high of $237.37. The firm has a market capitalization of $213.80 billion, a PE ratio of 26.36, a P/E/G ratio of 5.21 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The business’s fifty day moving average price is $214.67 and its two-hundred day moving average price is $190.05.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.05. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period last year, the firm posted $2.20 EPS. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, research analysts expect that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Wall Street Analyst Weigh In

IBM has been the subject of a number of analyst reports. UBS Group upped their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Royal Bank of Canada increased their price objective on shares of International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Jefferies Financial Group upped their target price on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday. Finally, Morgan Stanley lifted their price target on International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $208.65.

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.