International Business Machines Co. (NYSE:IBM) Stake Lowered by Kavar Capital Partners Group LLC

Kavar Capital Partners Group LLC trimmed its holdings in International Business Machines Co. (NYSE:IBM) by 2.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,988 shares of the technology company’s stock after selling 650 shares during the quarter. Kavar Capital Partners Group LLC’s holdings in International Business Machines were worth $5,303,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Clear Harbor Asset Management LLC grew its holdings in International Business Machines by 20.5% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 2,323 shares of the technology company’s stock worth $514,000 after buying an additional 395 shares in the last quarter. Smith Salley Wealth Management lifted its position in International Business Machines by 2.1% in the third quarter. Smith Salley Wealth Management now owns 9,173 shares of the technology company’s stock worth $2,028,000 after purchasing an additional 191 shares during the period. DekaBank Deutsche Girozentrale lifted its position in International Business Machines by 7.9% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,351,453 shares of the technology company’s stock worth $298,136,000 after purchasing an additional 98,516 shares during the period. Modera Wealth Management LLC lifted its position in International Business Machines by 14.9% in the third quarter. Modera Wealth Management LLC now owns 22,414 shares of the technology company’s stock worth $4,955,000 after purchasing an additional 2,915 shares during the period. Finally, GHP Investment Advisors Inc. lifted its position in International Business Machines by 0.6% in the third quarter. GHP Investment Advisors Inc. now owns 77,663 shares of the technology company’s stock worth $17,170,000 after purchasing an additional 463 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Down 1.7 %

IBM opened at $214.67 on Friday. International Business Machines Co. has a twelve month low of $141.58 and a twelve month high of $237.37. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The business has a 50 day moving average price of $215.58 and a 200 day moving average price of $190.43. The firm has a market cap of $197.74 billion, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 4.84 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly 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. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $2.20 earnings per share. Research analysts forecast that International Business Machines Co. will post 10.13 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is currently 73.65%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on IBM shares. Stifel Nicolaus upped their target price 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. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research report on Thursday. Bank of America upped their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday. Finally, The Goldman Sachs Group increased their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, International Business Machines has an average rating of “Hold” and a consensus price target of $208.12.

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.