Wallace Advisory Group LLC Sells 855 Shares of International Business Machines Co. (NYSE:IBM)

Wallace Advisory Group LLC decreased its position in International Business Machines Co. (NYSE:IBM) by 21.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,154 shares of the technology company’s stock after selling 855 shares during the quarter. Wallace Advisory Group LLC’s holdings in International Business Machines were worth $545,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in IBM. FPC Investment Advisory Inc. bought a new stake in International Business Machines in the 1st quarter valued at about $26,000. ESL Trust Services LLC acquired a new stake in shares of International Business Machines in the first quarter valued at approximately $28,000. Creekmur Asset Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in International Business Machines during the fourth quarter worth approximately $31,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines during the second quarter worth approximately $36,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 1.2 %

Shares of IBM stock opened at $220.84 on Monday. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $224.15. The stock’s fifty day simple moving average is $200.17 and its 200 day simple moving average is $185.15. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The firm has a market capitalization of $202.86 billion, a P/E ratio of 25.01, a P/E/G ratio of 4.90 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.27. The company had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.18 earnings per share. As a group, sell-side analysts predict that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is currently 75.65%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IBM. UBS Group upped their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Stifel Nicolaus increased their price objective on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Jefferies Financial Group boosted their target price on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group started coverage on shares of International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 price target on the stock. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus price target of $188.60.

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.