Marks Group Wealth Management Inc Reduces Stake in International Business Machines Co. (NYSE:IBM)

Marks Group Wealth Management Inc cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,380 shares of the technology company’s stock after selling 177 shares during the quarter. Marks Group Wealth Management Inc’s holdings in International Business Machines were worth $2,295,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in IBM. Ellenbecker Investment Group increased its position in shares of International Business Machines by 2.3% in the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after buying an additional 46 shares in the last quarter. Goldstein Advisors LLC raised its position in International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after acquiring an additional 47 shares during the period. Sollinda Capital Management LLC lifted its holdings in International Business Machines by 3.7% during the third quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after purchasing an additional 49 shares in the last quarter. Lansing Street Advisors grew its position in shares of International Business Machines by 3.4% in the third quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock valued at $332,000 after purchasing an additional 49 shares during the period. Finally, Northern Financial Advisors Inc increased its stake in shares of International Business Machines by 0.6% during the third quarter. Northern Financial Advisors Inc now owns 7,815 shares of the technology company’s stock worth $1,728,000 after purchasing an additional 50 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IBM has been the topic of several research analyst reports. Bank of America lifted their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Bernstein Bank boosted their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a report on Wednesday, October 2nd. Jefferies Financial Group upped their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Finally, Stifel Nicolaus raised their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $208.12.

International Business Machines Trading Up 0.6 %

IBM opened at $207.57 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm has a market cap of $191.93 billion, a P/E ratio of 30.21, a P/E/G ratio of 4.68 and a beta of 0.71. International Business Machines Co. has a 52 week low of $145.28 and a 52 week high of $237.37. The business has a fifty day simple moving average of $217.19 and a 200-day simple moving average of $191.71.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the previous year, the company posted $2.20 EPS. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. On average, equities analysts expect that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.22%. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

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.