Keystone Financial Planning Inc. Sells 1,309 Shares of International Business Machines Co. (NYSE:IBM)

Keystone Financial Planning Inc. lowered its position in International Business Machines Co. (NYSE:IBM) by 11.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,941 shares of the technology company’s stock after selling 1,309 shares during the quarter. International Business Machines accounts for about 0.7% of Keystone Financial Planning Inc.’s holdings, making the stock its 28th largest position. Keystone Financial Planning Inc.’s holdings in International Business Machines were worth $2,198,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. FPC Investment Advisory Inc. bought a new position in International Business Machines in the first quarter worth $26,000. ESL Trust Services LLC bought a new stake in International Business Machines in the first quarter valued at about $28,000. Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines in the second quarter worth about $36,000. Wolff Wiese Magana LLC lifted its stake in International Business Machines by 37.0% during the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares during the period. Finally, Briaud Financial Planning Inc boosted its holdings in International Business Machines by 54.3% during the second quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock valued at $49,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Up 0.7 %

Shares of NYSE IBM opened at $208.22 on Friday. The firm’s 50-day moving average is $216.84 and its 200-day moving average is $191.24. International Business Machines Co. has a 1 year low of $144.84 and a 1 year high of $237.37. The firm has a market capitalization of $191.80 billion, a PE ratio of 30.31, a price-to-earnings-growth ratio of 4.28 and a beta of 0.70. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the previous year, the business earned $2.20 EPS. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities analysts expect that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. UBS Group increased their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. The Goldman Sachs Group boosted their target price 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. Stifel Nicolaus increased their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Bernstein Bank boosted their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Finally, DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.