7,378 International Business Machines Corporation $IBM Shares Sold by Trek Financial LLC

Trek Financial LLC cut its position in shares of International Business Machines Corporation (NYSE:IBM) by 75.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,455 shares of the technology company’s stock after selling 7,378 shares during the period. Trek Financial LLC’s holdings in International Business Machines were worth $540,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harborfront Financial Group LLC acquired a new position in shares of International Business Machines in the 2nd quarter valued at about $27,000. Hara Capital LLC acquired a new stake in International Business Machines during the 2nd quarter worth approximately $28,000. Bare Financial Services Inc increased its position in International Business Machines by 114.6% during the 2nd quarter. Bare Financial Services Inc now owns 103 shares of the technology company’s stock worth $29,000 after purchasing an additional 55 shares in the last quarter. Caitlin John LLC acquired a new stake in International Business Machines during the 2nd quarter worth approximately $35,000. Finally, Axiom Investment Management LLC purchased a new position in International Business Machines in the first quarter valued at approximately $36,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the transaction, the senior vice president directly owned 47,800 shares of the company’s stock, valued at approximately $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Argus reduced their price target on shares of International Business Machines from $360.00 to $280.00 and set a “buy” rating on the stock in a research report on Thursday, July 16th. Weiss Ratings downgraded shares of International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 29th. Yorkville Ives initiated coverage on shares of International Business Machines in a research report on Monday, October 5th. They issued an “outperform” rating and a $275.00 price objective for the company. BMO Capital Markets raised their target price on shares of International Business Machines from $230.00 to $265.00 and gave the company a “market perform” rating in a research note on Thursday, October 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of International Business Machines from $250.00 to $269.00 and gave the company an “overweight” rating in a research note on Thursday, October 22nd. Nineteen research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, International Business Machines presently has an average rating of “Moderate Buy” and a consensus price target of $266.12.

International Business Machines Price Performance

IBM stock opened at $249.83 on Wednesday. The firm has a market cap of $236.12 billion, a P/E ratio of 21.30, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.80 and a current ratio of 0.85. International Business Machines Corporation has a 1 year low of $199.19 and a 1 year high of $332.46. The stock has a 50-day simple moving average of $235.88 and a 200-day simple moving average of $249.39.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 21st. The technology company reported $2.95 EPS for the quarter, topping the consensus estimate of $2.85 by $0.10. The firm had revenue of $17.10 billion for the quarter, compared to analyst estimates of $16.82 billion. International Business Machines had a return on equity of 34.37% and a net margin of 15.99%. International Business Machines’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.65 EPS. On average, equities analysts predict that International Business Machines Corporation will post 12.41 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Tuesday, November 10th will be paid a dividend of $1.69 per share. The ex-dividend date is Tuesday, November 10th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.7%. International Business Machines’s dividend payout ratio (DPR) is currently 57.63%.

International Business Machines Company Profile

International Business Machines Corporation (NYSE:IBM), commonly known as IBM, is a global technology and consulting company that helps organizations modernize their information technology and business operations. Its offerings include hybrid cloud solutions, artificial intelligence software and services, enterprise software, IT infrastructure, cybersecurity, data analytics, and technology consulting.

IBM provides products and services to businesses, governments, and other institutions across industries and regions worldwide.