Linscomb Wealth Inc. Sells 8,290 Shares of International Business Machines Co. (NYSE:IBM)

Linscomb Wealth Inc. cut its position in shares of International Business Machines Co. (NYSE:IBM) by 42.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,306 shares of the technology company’s stock after selling 8,290 shares during the quarter. Linscomb Wealth Inc.’s holdings in International Business Machines were worth $2,500,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Ellenbecker Investment Group grew its position in shares of International Business Machines by 2.3% in the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after buying an additional 46 shares during the last quarter. Goldstein Advisors LLC raised its stake in shares of International Business Machines by 4.0% in the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after purchasing an additional 47 shares during the last quarter. Sollinda Capital Management LLC raised its stake in shares of International Business Machines by 3.7% in the third quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock worth $301,000 after purchasing an additional 49 shares during the last quarter. Lansing Street Advisors grew its holdings in shares of International Business Machines by 3.4% in the third quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock worth $332,000 after acquiring an additional 49 shares during the period. Finally, Ascent Wealth Partners LLC grew its holdings in shares of International Business Machines by 0.7% in the third quarter. Ascent Wealth Partners LLC now owns 7,144 shares of the technology company’s stock worth $1,579,000 after acquiring an additional 49 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Tuesday. Bernstein Bank increased their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Bank of America increased their price target on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Stifel Nicolaus raised their price objective 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. Finally, Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $208.12.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

NYSE:IBM traded down $2.06 during trading hours on Friday, hitting $206.93. 690,104 shares of the stock were exchanged, compared to its average volume of 4,222,351. International Business Machines Co. has a 52-week low of $152.13 and a 52-week high of $237.37. The firm’s fifty day moving average price is $218.70 and its 200 day moving average price is $193.22. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The company has a market cap of $191.34 billion, a P/E ratio of 30.28, a P/E/G ratio of 4.74 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. The business 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%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.20 EPS. As a group, equities research analysts anticipate that International Business Machines Co. will post 10.11 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

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.