Kessler Investment Group LLC Sells 120 Shares of International Business Machines Co. (NYSE:IBM)

Kessler Investment Group LLC reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,087 shares of the technology company’s stock after selling 120 shares during the quarter. International Business Machines comprises about 1.0% of Kessler Investment Group LLC’s investment portfolio, making the stock its 24th biggest position. Kessler Investment Group LLC’s holdings in International Business Machines were worth $2,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AdvisorNet Financial Inc raised its position in International Business Machines by 27.9% in the 1st quarter. AdvisorNet Financial Inc now owns 5,997 shares of the technology company’s stock worth $1,145,000 after purchasing an additional 1,309 shares during the period. Global Assets Advisory LLC bought a new position in International Business Machines in the 1st quarter valued at $3,026,000. Mechanics Bank Trust Department purchased a new stake in International Business Machines in the first quarter worth $469,000. West Coast Financial LLC bought a new stake in shares of International Business Machines during the first quarter worth $239,000. Finally, Evanson Asset Management LLC boosted its stake in shares of International Business Machines by 14.2% during the first quarter. Evanson Asset Management LLC now owns 2,092 shares of the technology company’s stock valued at $399,000 after purchasing an additional 260 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on IBM shares. Jefferies Financial Group lifted their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday. Bernstein Bank boosted their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Morgan Stanley increased their price target on International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, BMO Capital Markets raised their price target on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $205.71.

International Business Machines Stock Down 0.0 %

NYSE:IBM traded down $0.02 during midday trading on Tuesday, reaching $231.73. 393,363 shares of the stock traded hands, compared to its average volume of 4,169,861. The business has a 50-day moving average of $213.04 and a two-hundred day moving average of $189.45. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $237.37. The stock has a market capitalization of $212.87 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating the consensus estimate of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the prior year, the business posted $2.18 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 2.88%. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

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.