Interchange Capital Partners LLC Cuts Position in International Business Machines Co. (NYSE:IBM)

Interchange Capital Partners LLC trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 12.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,797 shares of the technology company’s stock after selling 535 shares during the period. Interchange Capital Partners LLC’s holdings in International Business Machines were worth $839,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Focus Financial Network Inc. increased its position in International Business Machines by 3.2% during the 3rd quarter. Focus Financial Network Inc. now owns 6,557 shares of the technology company’s stock valued at $1,450,000 after buying an additional 206 shares in the last quarter. Stephens Inc. AR grew its stake in shares of International Business Machines by 4.5% in the third quarter. Stephens Inc. AR now owns 70,695 shares of the technology company’s stock worth $15,629,000 after acquiring an additional 3,075 shares during the last quarter. Summit Wealth Partners LLC increased its holdings in shares of International Business Machines by 5.5% during the third quarter. Summit Wealth Partners LLC now owns 1,934 shares of the technology company’s stock valued at $428,000 after acquiring an additional 101 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC purchased a new position in shares of International Business Machines in the 3rd quarter worth about $267,000. Finally, IRON Financial LLC bought a new position in International Business Machines in the 3rd quarter worth about $229,000. 58.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on IBM. UBS Group raised their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. BMO Capital Markets increased their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group boosted their price target on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Performance

NYSE IBM traded up $1.90 during trading hours on Friday, hitting $208.62. 695,448 shares of the company’s stock traded hands, compared to its average volume of 4,257,636. 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 Co. has a 52 week low of $144.84 and a 52 week high of $237.37. The firm has a market capitalization of $192.17 billion, a P/E ratio of 30.48, a P/E/G ratio of 4.28 and a beta of 0.70. The business’s fifty day moving average price is $216.60 and its two-hundred day moving average price is $191.05.

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 the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. International Business Machines’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.20 EPS. Equities research analysts predict that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.20%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

About International Business Machines

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.