Ascent Group LLC Cuts Stake in International Business Machines Co. (NYSE:IBM)

Ascent Group LLC lowered its stake in International Business Machines Co. (NYSE:IBM) by 21.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,308 shares of the technology company’s stock after selling 3,314 shares during the quarter. Ascent Group LLC’s holdings in International Business Machines were worth $2,129,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. FPC Investment Advisory Inc. purchased a new stake in shares of International Business Machines during the first quarter valued at approximately $26,000. ESL Trust Services LLC purchased a new stake in International Business Machines during the 1st quarter worth $28,000. Creekmur Asset Management LLC acquired a new position in International Business Machines in the 4th quarter worth $29,000. Ables Iannone Moore & Associates Inc. purchased a new position in International Business Machines in the 4th quarter valued at about $31,000. Finally, Financial Synergies Wealth Advisors Inc. grew its stake in shares of International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after acquiring an additional 123 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on IBM shares. The Goldman Sachs Group assumed coverage on International Business Machines in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 price objective for the company. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Stifel Nicolaus raised their price objective on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Finally, Jefferies Financial Group lifted their price target on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $188.60.

International Business Machines Stock Performance

Shares of IBM stock opened at $220.84 on Monday. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $224.15. The firm has a market capitalization of $202.86 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 4.90 and a beta of 0.70. The business has a 50 day simple moving average of $200.17 and a 200 day simple moving average of $185.15. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $15.62 billion. During the same period in the prior year, the firm posted $2.18 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 3.02%. International Business Machines’s dividend payout ratio is currently 75.65%.

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.