Bruce G. Allen Investments LLC Sells 59 Shares of International Business Machines Co. (NYSE:IBM)

Bruce G. Allen Investments LLC reduced its holdings in International Business Machines Co. (NYSE:IBM) by 6.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 844 shares of the technology company’s stock after selling 59 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in International Business Machines were worth $187,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new stake in International Business Machines in the first quarter worth approximately $26,000. ESL Trust Services LLC bought a new stake in shares of International Business Machines during the first quarter valued at approximately $28,000. Creekmur Asset Management LLC bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $31,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Business Machines during the second quarter valued at approximately $36,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Up 2.5 %

Shares of NYSE IBM opened at $234.30 on Thursday. International Business Machines Co. has a one year low of $135.87 and a one year high of $234.95. 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 $205.08 and its 200-day moving average price is $186.69. The stock has a market capitalization of $215.23 billion, a PE ratio of 26.53, a P/E/G ratio of 4.90 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter in the prior year, the firm earned $2.18 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given 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 2.85%. International Business Machines’s dividend payout ratio is presently 75.65%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IBM. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Royal Bank of Canada boosted their price objective on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Bernstein Bank upped their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Evercore ISI upped their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Finally, StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. 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 company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $196.12.

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.