International Business Machines Co. (NYSE:IBM) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC lowered its holdings in International Business Machines Co. (NYSE:IBM) by 1.3% in the third quarter, Holdings Channel.com reports. The fund owned 47,647 shares of the technology company’s stock after selling 641 shares during the quarter. Apollon Wealth Management LLC’s holdings in International Business Machines were worth $10,534,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Hazlett Burt & Watson Inc. increased its position in shares of International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after buying an additional 116 shares in the last quarter. Hara Capital LLC purchased a new stake in International Business Machines during the 3rd quarter worth about $29,000. ESL Trust Services LLC purchased a new stake in International Business Machines during the 1st quarter worth about $28,000. Capital Performance Advisors LLP acquired a new stake in International Business Machines in the 3rd quarter worth about $43,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines in the 2nd quarter worth about $36,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on IBM shares. BMO Capital Markets raised their price target on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Thursday, October 24th. Stifel Nicolaus boosted their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. 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 report on Monday, October 21st. Finally, Morgan Stanley reduced their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Three research 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. Based on data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Price Performance

Shares of IBM opened at $213.62 on Tuesday. The company has a market cap of $197.52 billion, a P/E ratio of 31.09, a PEG ratio of 4.80 and a beta of 0.71. The stock has a fifty day moving average price of $218.02 and a 200 day moving average price of $192.36. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. International Business Machines Co. has a 12 month low of $147.35 and a 12 month high of $237.37.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.20 EPS. On average, research analysts forecast that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Tuesday, November 12th. 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.