Fortune Financial Advisors LLC Has $332,000 Stake in International Business Machines Co. (NYSE:IBM)

Fortune Financial Advisors LLC lowered its position in International Business Machines Co. (NYSE:IBM) by 3.5% in the third quarter, HoldingsChannel.com reports. The fund owned 1,500 shares of the technology company’s stock after selling 54 shares during the quarter. Fortune Financial Advisors LLC’s holdings in International Business Machines were worth $332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Foguth Wealth Management LLC. bought a new position in shares of International Business Machines during the 1st quarter worth approximately $273,000. Cornerstone Wealth Group LLC increased its holdings in shares of International Business Machines by 97.9% in the first quarter. Cornerstone Wealth Group LLC now owns 3,431 shares of the technology company’s stock valued at $655,000 after purchasing an additional 1,697 shares during the last quarter. Trilogy Capital Inc. acquired a new stake in shares of International Business Machines during the 1st quarter worth about $434,000. Citizens Business Bank lifted its position in International Business Machines by 11.5% during the first quarter. Citizens Business Bank now owns 2,092 shares of the technology company’s stock worth $399,000 after acquiring an additional 216 shares during the last quarter. Finally, LVW Advisors LLC acquired a new stake in International Business Machines during the 1st quarter worth approximately $330,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IBM has been the subject of a number of analyst reports. Bank of America lifted their price target on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI raised their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Thursday. Jefferies Financial Group increased their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Finally, DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research note on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average target price of $208.12.

International Business Machines Stock Down 1.7 %

Shares of IBM opened at $214.67 on Friday. The stock’s 50-day moving average price is $215.58 and its two-hundred day moving average price is $190.43. International Business Machines Co. has a 12 month low of $141.58 and a 12 month high of $237.37. The company has a market capitalization of $197.74 billion, a PE ratio of 23.67, a PEG ratio of 4.84 and a beta of 0.70. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.20 earnings per share. On average, analysts anticipate that International Business Machines Co. will post 10.13 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is currently 73.65%.

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.