Linscomb Wealth Inc. Has $2.50 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

Linscomb Wealth Inc. decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 42.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,306 shares of the technology company’s stock after selling 8,290 shares during the quarter. Linscomb Wealth Inc.’s holdings in International Business Machines were worth $2,500,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in IBM. Hazlett Burt & Watson Inc. lifted its holdings in shares of International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after buying an additional 116 shares in the last quarter. Hara Capital LLC acquired a new position in International Business Machines in the third quarter valued at about $29,000. ESL Trust Services LLC acquired a new position in International Business Machines in the first quarter valued at about $28,000. Capital Performance Advisors LLP acquired a new position in International Business Machines in the third quarter valued at about $43,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines in the second quarter valued at about $36,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.07% of the stock is currently owned by insiders.

Analysts Set New Price Targets

IBM has been the subject of a number of analyst reports. Evercore ISI boosted their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. BMO Capital Markets lifted their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Stifel Nicolaus lifted their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group lifted their price objective on 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 investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Performance

NYSE:IBM traded down $2.06 during trading on Friday, reaching $206.93. The company’s stock had a trading volume of 690,104 shares, compared to its average volume of 4,222,351. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm has a market cap of $191.34 billion, a price-to-earnings ratio of 30.28, a price-to-earnings-growth ratio of 4.74 and a beta of 0.71. International Business Machines Co. has a 12 month low of $152.13 and a 12 month high of $237.37. The firm has a 50 day moving average of $218.70 and a 200-day moving average of $193.22.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.20 EPS. Research analysts expect that International Business Machines Co. will post 10.11 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.23%. International Business Machines’s payout ratio is 97.23%.

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.