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

Venturi Wealth Management LLC reduced its position in shares of International Business Machines Co. (NYSE:IBM) by 24.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,701 shares of the technology company’s stock after selling 2,547 shares during the period. Venturi Wealth Management LLC’s holdings in International Business Machines were worth $1,703,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new position in International Business Machines during the first quarter worth $26,000. ESL Trust Services LLC purchased a new position in International Business Machines during the first quarter worth about $28,000. Hazlett Burt & Watson Inc. grew its stake in shares of International Business Machines by 1,054.5% in the 3rd 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 during the period. Hara Capital LLC acquired a new position in International Business Machines in the third quarter valued at approximately $29,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Business Machines during the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 0.6 %

International Business Machines stock opened at $214.92 on Monday. International Business Machines Co. has a twelve month low of $147.35 and a twelve month high of $237.37. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The stock has a 50 day moving average of $218.02 and a two-hundred day moving average of $192.36. The stock has a market capitalization of $198.73 billion, a price-to-earnings ratio of 31.11, a PEG ratio of 4.80 and a beta of 0.71.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (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 analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 earnings per share. As a group, research 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 announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on IBM shares. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Stifel Nicolaus lifted their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley lowered their price objective 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. Evercore ISI upped their target price on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Finally, Bernstein Bank raised their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus target price 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.