International Business Machines Co. (NYSE:IBM) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. decreased its holdings in International Business Machines Co. (NYSE:IBM) by 5.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,883 shares of the technology company’s stock after selling 1,572 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in International Business Machines were worth $6,164,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of IBM. First National Bank of Hutchinson acquired a new stake in shares of International Business Machines in the third quarter valued at approximately $226,000. Romano Brothers AND Company grew its holdings in International Business Machines by 3.5% in the 3rd quarter. Romano Brothers AND Company now owns 36,593 shares of the technology company’s stock valued at $8,090,000 after buying an additional 1,253 shares in the last quarter. Great Lakes Retirement Inc. grew its holdings in International Business Machines by 4,676.6% in the 3rd quarter. Great Lakes Retirement Inc. now owns 11,034 shares of the technology company’s stock valued at $2,439,000 after buying an additional 10,803 shares in the last quarter. Brighton Jones LLC increased its stake in shares of International Business Machines by 5.2% in the 3rd quarter. Brighton Jones LLC now owns 18,688 shares of the technology company’s stock worth $4,132,000 after acquiring an additional 922 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after acquiring an additional 2,702,340 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of NYSE IBM opened at $232.75 on Thursday. The stock’s 50-day moving average is $214.67 and its two-hundred day moving average is $190.05. 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 company has a market cap of $213.80 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a 1-year low of $136.05 and a 1-year high of $237.37.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $15.08 billion. During the same period in the prior year, the firm earned $2.20 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. Analysts forecast that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group raised 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 report on Monday. Morgan Stanley lifted their price target on shares of International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Bank of America increased their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets lifted their target price on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada increased their price target on International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently 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.