Centric Wealth Management Sells 105 Shares of International Business Machines Co. (NYSE:IBM)

Centric Wealth Management decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 4.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,293 shares of the technology company’s stock after selling 105 shares during the quarter. Centric Wealth Management’s holdings in International Business Machines were worth $490,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. increased its stake in International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares during the period. Hara Capital LLC bought a new stake in shares of International Business Machines in the 3rd quarter worth about $29,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Business Machines during the 2nd quarter worth about $36,000. Wolff Wiese Magana LLC boosted 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 buying an additional 60 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in International Business Machines during the third quarter worth about $43,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IBM. The Goldman Sachs Group boosted their target price on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Stifel Nicolaus upped their price target on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. 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 research report on Wednesday, October 9th. Jefferies Financial Group boosted 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, October 21st. Finally, Bernstein Bank lifted their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $208.12.

International Business Machines Trading Down 0.8 %

IBM opened at $226.92 on Friday. The stock has a market capitalization of $209.82 billion, a P/E ratio of 33.03, a P/E/G ratio of 5.09 and a beta of 0.71. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 12 month low of $154.86 and a 12 month high of $237.37. The firm’s fifty day simple moving average is $220.43 and its 200 day simple moving average is $196.86.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS 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 analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.20 earnings per share. As a group, research analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

International Business Machines 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.