Garner Asset Management Corp Lowers Stake in International Business Machines Co. (NYSE:IBM)

Garner Asset Management Corp reduced its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,813 shares of the technology company’s stock after selling 157 shares during the period. International Business Machines accounts for about 1.3% of Garner Asset Management Corp’s investment portfolio, making the stock its 19th largest holding. Garner Asset Management Corp’s holdings in International Business Machines were worth $2,833,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. lifted its position in International Business Machines by 1,054.5% during the 3rd 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 purchased a new position in International Business Machines in the third quarter worth about $29,000. Capital Performance Advisors LLP purchased a new position in International Business Machines in the third quarter worth about $43,000. Oliver Lagore Vanvalin Investment Group purchased a new position in International Business Machines in the second quarter worth about $36,000. Finally, Wolff Wiese Magana LLC raised its holdings 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 worth $38,000 after buying an additional 60 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on IBM shares. Bank of America lifted their target price on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday. BMO Capital Markets lifted their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. The Goldman Sachs Group lifted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Bernstein Bank lifted 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 report on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $208.12.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the 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 directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

International Business Machines stock opened at $222.97 on Friday. The company has a market cap of $206.17 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 4.99 and a beta of 0.71. The firm’s fifty day moving average is $219.45 and its 200 day moving average is $195.39. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 52-week low of $153.92 and a 52-week high of $237.37.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the prior year, the firm posted $2.20 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Sell-side analysts forecast that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is presently 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.