Clarus Wealth Advisors Reduces Stock Holdings in International Business Machines Co. (NYSE:IBM)

Clarus Wealth Advisors lessened its stake in International Business Machines Co. (NYSE:IBM) by 9.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,848 shares of the technology company’s stock after selling 189 shares during the quarter. Clarus Wealth Advisors’ holdings in International Business Machines were worth $420,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new position in shares of International Business Machines in the first quarter valued at $26,000. ESL Trust Services LLC acquired a new position in International Business Machines in the 1st quarter worth $28,000. Creekmur Asset Management LLC purchased a new position in International Business Machines in the 4th quarter valued at about $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of International Business Machines during the fourth quarter valued at about $31,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of International Business Machines during the second quarter worth about $36,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of analyst reports. Jefferies Financial Group increased their price target on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. BMO Capital Markets raised their price target on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. The Goldman Sachs Group lifted their price target 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. Royal Bank of Canada increased their price objective on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Evercore ISI boosted their target price on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report 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’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $196.12.

International Business Machines Stock Performance

Shares of IBM stock opened at $234.30 on Thursday. The company has a market cap of $215.23 billion, a P/E ratio of 26.53, a PEG ratio of 4.90 and a beta of 0.70. The business has a 50 day moving average of $205.92 and a two-hundred day moving average of $187.02. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $234.95. 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 (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (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 business had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the previous year, the firm posted $2.18 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is currently 75.65%.

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.