Mutual Advisors LLC Sells 3,118 Shares of International Business Machines Co. (NYSE:IBM)

Mutual Advisors LLC reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 7.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,826 shares of the technology company’s stock after selling 3,118 shares during the quarter. Mutual Advisors LLC’s holdings in International Business Machines were worth $8,261,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Adell Harriman & Carpenter Inc. boosted its position in shares of International Business Machines by 2.7% during the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 63,532 shares of the technology company’s stock worth $14,046,000 after acquiring an additional 1,660 shares in the last quarter. Childress Capital Advisors LLC boosted its holdings in shares of International Business Machines by 10.7% in the 3rd quarter. Childress Capital Advisors LLC now owns 2,161 shares of the technology company’s stock valued at $478,000 after purchasing an additional 209 shares in the last quarter. Fidelis Capital Partners LLC increased its stake in shares of International Business Machines by 83.5% in the 3rd quarter. Fidelis Capital Partners LLC now owns 6,256 shares of the technology company’s stock valued at $1,456,000 after purchasing an additional 2,846 shares during the last quarter. Valmark Advisers Inc. raised its holdings in shares of International Business Machines by 6.8% during the 3rd quarter. Valmark Advisers Inc. now owns 4,651 shares of the technology company’s stock worth $1,028,000 after buying an additional 297 shares in the last quarter. Finally, GW Henssler & Associates Ltd. lifted its position in shares of International Business Machines by 3.7% during the 3rd quarter. GW Henssler & Associates Ltd. now owns 1,625 shares of the technology company’s stock worth $359,000 after buying an additional 58 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on IBM. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. BMO Capital Markets upped their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Bank of America raised their target price on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. UBS Group upped their price target on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $208.12.

International Business Machines Trading Down 1.2 %

IBM opened at $210.43 on Wednesday. The stock has a market cap of $193.30 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 4.84 and a beta of 0.70. 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 Co. has a twelve month low of $142.58 and a twelve month high of $237.37. The company has a fifty day moving average of $216.23 and a 200-day moving average of $190.85.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.20 EPS. On average, sell-side analysts predict that International Business Machines Co. will post 10.13 EPS for the current year.

International Business Machines Company 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.