Confluence Wealth Services Inc. Cuts Stake in International Business Machines Co. (NYSE:IBM)

Confluence Wealth Services Inc. lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 4.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,995 shares of the technology company’s stock after selling 684 shares during the period. Confluence Wealth Services Inc.’s holdings in International Business Machines were worth $3,315,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new stake in shares of International Business Machines during the 1st quarter worth approximately $26,000. ESL Trust Services LLC purchased a new stake in International Business Machines in the first quarter worth $28,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Business Machines in the second quarter valued at $36,000. Wolff Wiese Magana LLC lifted its position in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after buying an additional 60 shares during the last quarter. Finally, Briaud Financial Planning Inc grew its stake in shares of International Business Machines by 54.3% during the 2nd quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock worth $49,000 after acquiring an additional 100 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 0.7 %

Shares of NYSE IBM opened at $208.25 on Friday. 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 business has a 50-day moving average of $216.84 and a 200-day moving average of $191.29. The firm has a market capitalization of $192.56 billion, a price-to-earnings ratio of 30.31, a PEG ratio of 4.64 and a beta of 0.71. International Business Machines Co. has a 12 month low of $144.84 and a 12 month high of $237.37.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The business 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 business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.20 EPS. Sell-side analysts expect that International Business Machines Co. will post 10.11 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. 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 dividend on an annualized basis and a yield of 3.21%. International Business Machines’s payout ratio is 97.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on IBM shares. Bernstein Bank upped their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Jefferies Financial Group raised their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. 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 report on Wednesday, September 11th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Finally, BMO Capital Markets lifted their price target on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.