Empowered Funds LLC Sells 2,678 Shares of International Business Machines Co. (NYSE:IBM)

Empowered Funds LLC lowered its position in International Business Machines Co. (NYSE:IBM) by 3.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 72,118 shares of the technology company’s stock after selling 2,678 shares during the quarter. Empowered Funds LLC’s holdings in International Business Machines were worth $15,944,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Empirical Finance LLC boosted its stake in shares of International Business Machines by 1.8% in the third quarter. Empirical Finance LLC now owns 31,240 shares of the technology company’s stock worth $6,907,000 after acquiring an additional 566 shares during the period. Sheaff Brock Investment Advisors LLC lifted its holdings in International Business Machines by 6.8% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 15,912 shares of the technology company’s stock worth $3,518,000 after purchasing an additional 1,017 shares in the last quarter. CIBC Asset Management Inc boosted its stake in International Business Machines by 8.3% in the 3rd quarter. CIBC Asset Management Inc now owns 168,271 shares of the technology company’s stock worth $37,201,000 after purchasing an additional 12,865 shares during the period. Intellectus Partners LLC raised its position in shares of International Business Machines by 3.3% during the third quarter. Intellectus Partners LLC now owns 4,953 shares of the technology company’s stock valued at $1,095,000 after buying an additional 158 shares during the last quarter. Finally, Balboa Wealth Partners lifted its holdings in shares of International Business Machines by 59.9% in the third quarter. Balboa Wealth Partners now owns 2,430 shares of the technology company’s stock worth $537,000 after buying an additional 910 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

IBM stock opened at $208.04 on Friday. The firm has a market cap of $192.36 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 4.74 and a beta of 0.71. International Business Machines Co. has a twelve month low of $152.13 and a twelve month high of $237.37. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The business’s fifty day simple moving average is $218.58 and its two-hundred day simple moving average is $193.11.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.20 EPS. Analysts predict that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be paid a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.21%. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.07% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IBM. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. Bernstein Bank boosted their target price on 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. The Goldman Sachs Group raised their price target on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Finally, BMO Capital Markets boosted their price target on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $208.12.

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.