SRN Advisors LLC Decreases Stock Holdings in International Business Machines Co. (NYSE:IBM)

SRN Advisors LLC lessened its position in shares of International Business Machines Co. (NYSE:IBM) by 48.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,691 shares of the technology company’s stock after selling 4,450 shares during the quarter. SRN Advisors LLC’s holdings in International Business Machines were worth $811,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of IBM. FPC Investment Advisory Inc. purchased a new stake in shares of International Business Machines during the 1st quarter valued at $26,000. ESL Trust Services LLC acquired a new position in International Business Machines during the 1st quarter valued at about $28,000. Creekmur Asset Management LLC purchased a new stake in International Business Machines in the fourth quarter valued at about $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in International Business Machines in the fourth quarter worth 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. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on IBM. Royal Bank of Canada boosted their price target on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Evercore ISI upped their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. The Goldman Sachs Group boosted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday. Finally, Stifel Nicolaus increased their price objective on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $191.93.

International Business Machines Stock Down 0.8 %

Shares of NYSE IBM opened at $219.36 on Wednesday. The company has a market capitalization of $201.50 billion, a P/E ratio of 24.84, a P/E/G ratio of 4.90 and a beta of 0.70. 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 company has a 50 day simple moving average of $201.62 and a 200-day simple moving average of $185.54. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $224.15.

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

International Business Machines Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is 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.