Nottingham Advisors Inc. Trims Stock Position in International Business Machines Co. (NYSE:IBM)

Nottingham Advisors Inc. lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 62.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,329 shares of the technology company’s stock after selling 2,250 shares during the quarter. Nottingham Advisors Inc.’s holdings in International Business Machines were worth $294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new position in International Business Machines during the second quarter worth $7,160,000. Hodges Capital Management Inc. increased its stake in International Business Machines by 60.8% in the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock valued at $3,921,000 after purchasing an additional 7,768 shares during the last quarter. Burns J W & Co. Inc. NY boosted its stake in International Business Machines by 10.8% in the 1st quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock worth $491,000 after buying an additional 250 shares during the last quarter. Smith Thornton Advisors LLC purchased a new stake in International Business Machines in the 2nd quarter valued at about $702,000. Finally, Retirement Planning Group LLC purchased a new position in shares of International Business Machines during the 3rd quarter worth about $618,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the topic of a number of research analyst reports. Evercore ISI lifted their price target 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. Bernstein Bank boosted their target price 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. Jefferies Financial Group increased their price target on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Stifel Nicolaus boosted their price objective on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Bank of America increased their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $200.82.

International Business Machines Stock Down 0.6 %

Shares of NYSE IBM traded down $1.41 during trading hours on Thursday, hitting $232.26. The stock had a trading volume of 337,574 shares, compared to its average volume of 4,169,688. The firm’s 50-day moving average price is $210.57 and its two-hundred day moving average price is $188.54. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $237.37. The company has a market capitalization of $213.35 billion, a P/E ratio of 26.46, a P/E/G ratio of 5.21 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $2.18 EPS. Analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio 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.