JFS Wealth Advisors LLC Sells 977 Shares of International Business Machines Co. (NYSE:IBM)

JFS Wealth Advisors LLC reduced its position in International Business Machines Co. (NYSE:IBM) by 9.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,842 shares of the technology company’s stock after selling 977 shares during the period. JFS Wealth Advisors LLC’s holdings in International Business Machines were worth $2,176,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kovack Advisors Inc. grew its stake in shares of International Business Machines by 31.7% during the first quarter. Kovack Advisors Inc. now owns 8,652 shares of the technology company’s stock worth $1,652,000 after acquiring an additional 2,084 shares during the last quarter. Everett Harris & Co. CA increased its stake in International Business Machines by 4.7% during the 1st quarter. Everett Harris & Co. CA now owns 3,882 shares of the technology company’s stock valued at $741,000 after purchasing an additional 175 shares in the last quarter. Norden Group LLC raised its holdings in shares of International Business Machines by 16.3% in the first quarter. Norden Group LLC now owns 5,880 shares of the technology company’s stock worth $1,123,000 after buying an additional 824 shares during the last quarter. Consolidated Portfolio Review Corp acquired a new stake in shares of International Business Machines during the first quarter worth $234,000. Finally, Private Advisor Group LLC grew its holdings in shares of International Business Machines by 5.6% during the first quarter. Private Advisor Group LLC now owns 164,921 shares of the technology company’s stock valued at $31,493,000 after buying an additional 8,705 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

IBM opened at $205.04 on Thursday. The company has a market cap of $188.35 billion, a price-to-earnings ratio of 23.22, a PEG ratio of 4.84 and a beta of 0.70. The firm’s fifty day simple moving average is $216.38 and its two-hundred day simple moving average is $190.95. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 52-week low of $142.59 and a 52-week high of $237.37.

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

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.26%. International Business Machines’s payout ratio is 75.65%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Stifel Nicolaus lifted 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. Bank of America upped their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Jefferies Financial Group raised their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Finally, Evercore ISI boosted their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $208.12.

International Business Machines Company 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.