Richard C. Young & CO. LTD. Reduces Holdings in International Business Machines Co. (NYSE:IBM)

Richard C. Young & CO. LTD. trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,318 shares of the technology company’s stock after selling 297 shares during the quarter. Richard C. Young & CO. LTD.’s holdings in International Business Machines were worth $14,441,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IBM. Quest Partners LLC increased its stake in shares of International Business Machines by 23,700.0% in the 3rd quarter. Quest Partners LLC now owns 238 shares of the technology company’s stock worth $53,000 after purchasing an additional 237 shares in the last quarter. Aljian Capital Management LLC bought a new stake in International Business Machines during the third quarter valued at about $611,000. Planning Directions Inc. purchased a new stake in International Business Machines in the third quarter worth about $213,000. Swiss National Bank increased its position in International Business Machines by 0.5% in the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock worth $602,819,000 after buying an additional 12,400 shares in the last quarter. Finally, Claro Advisors LLC lifted its position in shares of International Business Machines by 18.2% during the 3rd quarter. Claro Advisors LLC now owns 6,693 shares of the technology company’s stock valued at $1,480,000 after buying an additional 1,031 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on IBM shares. Bank of America increased their target price on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Jefferies Financial Group increased their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. The Goldman Sachs Group lifted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. Finally, DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $208.12.

Insider Transactions at International Business Machines

In related 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 value of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.07% of the company’s stock.

International Business Machines Stock Down 1.9 %

NYSE IBM opened at $204.99 on Monday. The company has a market capitalization of $189.54 billion, a P/E ratio of 29.84, a P/E/G ratio of 4.60 and a beta of 0.71. The stock has a 50 day moving average price of $218.79 and a 200-day moving average price of $193.88. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a one year low of $152.13 and a one year high of $237.37.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the prior year, the company earned $2.20 EPS. The business’s revenue was up 1.5% compared to the same quarter last year. As a group, equities analysts predict that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is 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.