Janney Capital Management LLC Reduces Stake in International Business Machines Co. (NYSE:IBM)

Janney Capital Management LLC trimmed its holdings in International Business Machines Co. (NYSE:IBM) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,394 shares of the technology company’s stock after selling 1,100 shares during the quarter. International Business Machines accounts for 1.5% of Janney Capital Management LLC’s portfolio, making the stock its 9th largest holding. Janney Capital Management LLC’s holdings in International Business Machines were worth $22,416,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. Morgan Stanley lowered their price objective on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Stifel Nicolaus raised 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. Finally, StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, International Business Machines currently has an average rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Up 0.7 %

Shares of NYSE IBM opened at $208.25 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The company has a market cap of $192.56 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth 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. The firm’s 50-day simple moving average is $216.84 and its 200 day simple moving average is $191.29.

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, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the prior year, the firm earned $2.20 earnings per share. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. On average, research 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 announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 dividend yield of 3.21%. International Business Machines’s payout ratio is currently 97.23%.

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.