Asset Dedication LLC Sells 4,304 Shares of International Business Machines Co. (NYSE:IBM)

Asset Dedication LLC lessened its holdings in shares of International Business Machines Co. (NYSE:IBM) by 14.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,232 shares of the technology company’s stock after selling 4,304 shares during the quarter. Asset Dedication LLC’s holdings in International Business Machines were worth $5,578,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new position in International Business Machines during the first quarter worth about $26,000. ESL Trust Services LLC bought a new stake in International Business Machines in the 1st quarter valued at about $28,000. Creekmur Asset Management LLC purchased a new stake in International Business Machines during the fourth quarter valued at about $29,000. Financial Synergies Wealth Advisors Inc. boosted its position in International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after purchasing an additional 123 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Business Machines in the second quarter valued at approximately $36,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Down 1.0 %

IBM stock opened at $233.00 on Wednesday. The company has a market capitalization of $214.03 billion, a PE ratio of 26.39, a price-to-earnings-growth 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 Co. has a one year low of $135.87 and a one year high of $237.37. The company’s 50 day moving average price is $209.64 and its two-hundred day moving average price is $188.23.

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

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IBM. The Goldman Sachs Group lifted their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Evercore ISI increased their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Royal Bank of Canada lifted their target price on International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. 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 report on Thursday, July 25th. Finally, Stifel Nicolaus boosted their price objective on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Three investment 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, the company presently has a consensus rating of “Hold” and an average target price of $198.41.

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.