Rench Wealth Management Inc. Lowers Holdings in International Business Machines Co. (NYSE:IBM)

Rench Wealth Management Inc. decreased its holdings in International Business Machines Co. (NYSE:IBM) by 44.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,269 shares of the technology company’s stock after selling 1,784 shares during the quarter. Rench Wealth Management Inc.’s holdings in International Business Machines were worth $502,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in IBM. Linden Thomas Advisory Services LLC boosted its stake in shares of International Business Machines by 49.7% in the second quarter. Linden Thomas Advisory Services LLC now owns 2,327 shares of the technology company’s stock valued at $402,000 after purchasing an additional 773 shares during the period. Lantz Financial LLC lifted its stake in International Business Machines by 0.9% in the second quarter. Lantz Financial LLC now owns 11,935 shares of the technology company’s stock worth $2,064,000 after acquiring an additional 107 shares during the last quarter. CX Institutional lifted its stake in International Business Machines by 1.2% in the second quarter. CX Institutional now owns 6,589 shares of the technology company’s stock worth $1,140,000 after acquiring an additional 77 shares during the last quarter. Jamison Private Wealth Management Inc. lifted its stake in International Business Machines by 57.4% in the second quarter. Jamison Private Wealth Management Inc. now owns 1,654 shares of the technology company’s stock worth $286,000 after acquiring an additional 603 shares during the last quarter. Finally, CHICAGO TRUST Co NA lifted its stake in International Business Machines by 17.7% in the second quarter. CHICAGO TRUST Co NA now owns 10,625 shares of the technology company’s stock worth $1,838,000 after acquiring an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.07% of the company’s stock.

International Business Machines Stock Performance

NYSE:IBM opened at $233.59 on Thursday. The firm’s fifty day moving average price is $221.17 and its 200 day moving average price is $198.76. International Business Machines Co. has a 1-year low of $157.88 and a 1-year high of $237.37. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The firm has a market cap of $215.99 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 5.14 and a beta of 0.73.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the firm posted $2.20 EPS. On average, sell-side analysts expect that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.86%. International Business Machines’s payout ratio is currently 97.23%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IBM. Morgan Stanley decreased their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research note on Wednesday, October 2nd. Stifel Nicolaus raised their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Bernstein Bank raised their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Finally, StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $208.12.

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.