Altrius Capital Management Inc Cuts Position in International Business Machines Co. (NYSE:IBM)

Altrius Capital Management Inc lowered its position in International Business Machines Co. (NYSE:IBM) by 7.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 24,985 shares of the technology company’s stock after selling 1,899 shares during the period. International Business Machines makes up 1.4% of Altrius Capital Management Inc’s holdings, making the stock its 27th biggest position. Altrius Capital Management Inc’s holdings in International Business Machines were worth $5,524,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. ESL Trust Services LLC acquired a new stake in shares of International Business Machines during the first quarter valued at $28,000. Hazlett Burt & Watson Inc. lifted its stake in shares of International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC purchased a new stake in shares of International Business Machines during the 3rd quarter valued at about $29,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of International Business Machines during the 2nd quarter valued at about $36,000. Finally, Wolff Wiese Magana LLC raised its holdings in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after buying an additional 60 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on IBM shares. Bank of America lifted their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group boosted their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research report on Wednesday, October 2nd. Bernstein Bank boosted their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Finally, Stifel Nicolaus boosted their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Stock Performance

IBM stock traded down $1.79 during midday trading on Friday, reaching $207.20. 628,273 shares of the company’s stock traded hands, compared to its average volume of 4,222,072. International Business Machines Co. has a 52 week low of $152.13 and a 52 week high of $237.37. The company has a 50-day moving average price of $218.70 and a two-hundred day moving average price of $193.22. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm has a market capitalization of $191.59 billion, a PE ratio of 30.28, a price-to-earnings-growth ratio of 4.74 and a beta of 0.71.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share 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 analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the firm posted $2.20 EPS. As a group, equities analysts anticipate that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.22%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.07% of the company’s stock.

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.