Dupree Financial Group LLC Decreases Stock Holdings in International Business Machines Co. (NYSE:IBM)

Dupree Financial Group LLC lessened its holdings in International Business Machines Co. (NYSE:IBM) by 4.3% during the third quarter, HoldingsChannel.com reports. The fund owned 1,167 shares of the technology company’s stock after selling 53 shares during the quarter. Dupree Financial Group LLC’s holdings in International Business Machines were worth $258,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in IBM. FPC Investment Advisory Inc. acquired a new position in shares of International Business Machines during the first quarter worth about $26,000. ESL Trust Services LLC acquired a new position in International Business Machines during the 1st quarter worth approximately $28,000. Oliver Lagore Vanvalin Investment Group purchased a new position in International Business Machines in the 2nd quarter worth approximately $36,000. Wolff Wiese Magana LLC grew its position in International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after acquiring an additional 60 shares in the last quarter. Finally, Briaud Financial Planning Inc raised its stake in shares of International Business Machines by 54.3% during the second quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock valued at $49,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 0.2 %

International Business Machines stock opened at $232.25 on Wednesday. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $237.37. The firm’s 50-day moving average is $213.86 and its 200-day moving average is $189.75. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The company has a market cap of $213.35 billion, a P/E ratio of 26.30, a PEG ratio of 5.21 and a beta of 0.70.

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

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors 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 yield of 2.88%. International Business Machines’s dividend payout ratio is currently 75.65%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on IBM shares. Bernstein Bank raised their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. The Goldman Sachs Group raised their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Evercore ISI lifted their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. BMO Capital Markets increased their price target on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Finally, Jefferies Financial Group lifted their price objective on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $205.71.

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.