CFS Investment Advisory Services LLC Sells 8,722 Shares of International Business Machines Co. (NYSE:IBM)

CFS Investment Advisory Services LLC lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 48.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,154 shares of the technology company’s stock after selling 8,722 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in International Business Machines were worth $2,024,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Hazlett Burt & Watson Inc. lifted its holdings in shares of International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC bought a new stake in shares of International Business Machines in the 3rd quarter valued at about $29,000. Oliver Lagore Vanvalin Investment Group bought a new position in International Business Machines during the second quarter worth about $36,000. Wolff Wiese Magana LLC raised its stake 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 valued at $38,000 after buying an additional 60 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of International Business Machines in the third quarter valued at approximately $43,000. 58.96% of the stock is owned by institutional investors.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.07% of the company’s stock.

International Business Machines Stock Up 3.6 %

IBM opened at $222.30 on Friday. The company’s 50-day moving average price is $219.29 and its two-hundred day moving average price is $194.83. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a twelve month low of $153.92 and a twelve month high of $237.37. The stock has a market cap of $205.55 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 4.72 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.20 earnings per share. As a group, equities analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is presently 97.23%.

Analysts Set New Price Targets

A number of research firms recently weighed in on IBM. Morgan Stanley dropped their price target 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. Bank of America increased their price target on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Bernstein Bank upped their target price on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.