Ashton Thomas Private Wealth LLC Has $1.97 Million Position in International Business Machines Co. (NYSE:IBM)

Ashton Thomas Private Wealth LLC cut its stake in International Business Machines Co. (NYSE:IBM) by 3.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 8,888 shares of the technology company’s stock after selling 328 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in International Business Machines were worth $1,965,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of IBM. Susquehanna Fundamental Investments LLC acquired a new stake in International Business Machines during the second quarter worth about $7,160,000. Philip James Wealth Mangement LLC bought a new position in International Business Machines in the third quarter valued at about $5,117,000. Focused Wealth Management Inc raised its stake in International Business Machines by 52.2% during the third quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock worth $2,504,000 after acquiring an additional 3,887 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of International Business Machines by 4.5% in the 3rd quarter. QRG Capital Management Inc. now owns 140,185 shares of the technology company’s stock valued at $30,992,000 after purchasing an additional 6,004 shares in the last quarter. Finally, F M Investments LLC grew its holdings in shares of International Business Machines by 39.6% during the 3rd quarter. F M Investments LLC now owns 61,938 shares of the technology company’s stock valued at $13,696,000 after purchasing an additional 17,554 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Performance

NYSE IBM opened at $210.93 on Wednesday. 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 company has a fifty day simple moving average of $218.25 and a 200 day simple moving average of $192.68. International Business Machines Co. has a 12-month low of $147.35 and a 12-month high of $237.37. The company has a market cap of $195.04 billion, a P/E ratio of 30.70, a PEG ratio of 4.80 and a beta of 0.71.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping 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 company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the previous year, the firm posted $2.20 earnings per share. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. Sell-side analysts predict that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.17%. International Business Machines’s payout ratio is 97.23%.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on IBM shares. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Tuesday. Bank of America raised their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. The Goldman Sachs Group boosted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Morgan Stanley lowered their price objective on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.