Empowered Funds LLC Sells 2,678 Shares of International Business Machines Co. (NYSE:IBM)

Empowered Funds LLC reduced its holdings in shares of International Business Machines Co. (NYSE:IBM) by 3.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,118 shares of the technology company’s stock after selling 2,678 shares during the period. Empowered Funds LLC’s holdings in International Business Machines were worth $15,944,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in IBM. Empirical Finance LLC grew its position in International Business Machines by 1.8% during the 3rd quarter. Empirical Finance LLC now owns 31,240 shares of the technology company’s stock worth $6,907,000 after acquiring an additional 566 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in shares of International Business Machines by 6.8% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 15,912 shares of the technology company’s stock worth $3,518,000 after purchasing an additional 1,017 shares during the period. CIBC Asset Management Inc raised its stake in International Business Machines by 8.3% in the third quarter. CIBC Asset Management Inc now owns 168,271 shares of the technology company’s stock worth $37,201,000 after buying an additional 12,865 shares in the last quarter. Intellectus Partners LLC lifted its holdings in International Business Machines by 3.3% in the third quarter. Intellectus Partners LLC now owns 4,953 shares of the technology company’s stock worth $1,095,000 after buying an additional 158 shares during the period. Finally, Balboa Wealth Partners boosted its position in International Business Machines by 59.9% during the 3rd quarter. Balboa Wealth Partners now owns 2,430 shares of the technology company’s stock valued at $537,000 after acquiring an additional 910 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction 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 in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.07% of the company’s stock.

International Business Machines Stock Down 0.5 %

IBM opened at $208.04 on Friday. International Business Machines Co. has a twelve month low of $152.13 and a twelve month high of $237.37. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm has a 50 day moving average price of $218.58 and a 200-day moving average price of $193.11. The stock has a market capitalization of $192.36 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 4.74 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share 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 analysts’ expectations 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 prior year, the firm earned $2.20 EPS. Equities research analysts forecast that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is currently 97.23%.

Analyst Upgrades and Downgrades

IBM has been the subject of a number of research analyst reports. BMO Capital Markets raised their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Bernstein Bank boosted their target price on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Tuesday. The Goldman Sachs Group boosted 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. Finally, Evercore ISI raised their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $208.12.

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.