Prospera Financial Services Inc Sells 4,736 Shares of International Business Machines Corporation $IBM

Prospera Financial Services Inc lessened its position in shares of International Business Machines Corporation (NYSE:IBM) by 4.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,142 shares of the technology company’s stock after selling 4,736 shares during the period. Prospera Financial Services Inc’s holdings in International Business Machines were worth $27,990,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Winnow Wealth LLC bought a new stake in International Business Machines during the second quarter valued at $27,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of International Business Machines in the 3rd quarter valued at about $28,000. Trifecta Capital Advisors LLC boosted its position in shares of International Business Machines by 129.1% during the 3rd quarter. Trifecta Capital Advisors LLC now owns 126 shares of the technology company’s stock valued at $36,000 after acquiring an additional 71 shares during the last quarter. Copia Wealth Management grew its holdings in shares of International Business Machines by 57.6% during the second quarter. Copia Wealth Management now owns 134 shares of the technology company’s stock worth $40,000 after purchasing an additional 49 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID increased its position in shares of International Business Machines by 48.5% in the second quarter. Legacy Wealth Managment LLC ID now owns 147 shares of the technology company’s stock worth $43,000 after purchasing an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 0.8%

IBM opened at $296.51 on Tuesday. International Business Machines Corporation has a 12 month low of $214.50 and a 12 month high of $324.90. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 1.67. The business’s 50-day moving average price is $301.92 and its 200-day moving average price is $283.91. The company has a market cap of $277.16 billion, a P/E ratio of 26.59, a P/E/G ratio of 3.00 and a beta of 0.69.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 28th. The technology company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.33 by $0.19. The business had revenue of $19.69 billion for the quarter, compared to analyst estimates of $19.23 billion. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.International Business Machines’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the company earned $3.92 EPS. On average, equities analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be paid a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, February 10th. International Business Machines’s payout ratio is presently 60.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on IBM shares. UBS Group set a $317.00 target price on shares of International Business Machines in a research report on Thursday, January 29th. Jefferies Financial Group lifted their price objective on shares of International Business Machines from $360.00 to $370.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Wall Street Zen lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Sunday, January 11th. Evercore raised their price target on International Business Machines from $330.00 to $345.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of International Business Machines in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $330.07.

Insider Buying and Selling

In other news, Director David N. Farr purchased 1,000 shares of the company’s stock in a transaction on Friday, January 30th. The stock was acquired at an average price of $304.00 per share, with a total value of $304,000.00. Following the transaction, the director directly owned 9,258 shares of the company’s stock, valued at approximately $2,814,432. This represents a 12.11% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by corporate insiders.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.