Cary Street Partners Financial LLC Sells 1,805 Shares of International Business Machines Corporation $IBM

Cary Street Partners Financial LLC trimmed its position in shares of International Business Machines Corporation (NYSE:IBM) by 6.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,185 shares of the technology company’s stock after selling 1,805 shares during the period. Cary Street Partners Financial LLC’s holdings in International Business Machines were worth $7,719,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after acquiring an additional 2,323 shares during the last quarter. Strategies Wealth Advisors LLC bought a new position in International Business Machines during the 1st quarter worth approximately $398,000. Zions Bancorporation National Association UT purchased a new position in International Business Machines in the 1st quarter worth approximately $350,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in International Business Machines by 45.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 141,673 shares of the technology company’s stock valued at $35,228,000 after purchasing an additional 44,051 shares during the last quarter. Finally, Koss Olinger Consulting LLC purchased a new stake in shares of International Business Machines during the first quarter valued at approximately $602,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

International Business Machines stock opened at $308.09 on Monday. International Business Machines Corporation has a twelve month low of $214.50 and a twelve month high of $324.90. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $287.98 billion, a P/E ratio of 36.85, a PEG ratio of 3.07 and a beta of 0.69. The stock’s 50 day moving average is $296.91 and its 200 day moving average is $276.54.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.45 by $0.20. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The business had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.10 billion. During the same period in the previous year, the company posted $2.30 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Monday, November 10th. International Business Machines’s dividend payout ratio is 80.38%.

Analyst Ratings Changes

Several brokerages recently commented on IBM. Jefferies Financial Group lifted their target price on shares of International Business Machines from $280.00 to $305.00 and gave the stock a “hold” rating in a research note on Tuesday, October 21st. UBS Group upped their price objective on shares of International Business Machines from $200.00 to $210.00 and gave the company a “sell” rating in a research note on Thursday, October 23rd. Weiss Ratings upgraded shares of International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a report on Saturday, October 25th. Bank of America boosted their price target on International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Finally, Erste Group Bank upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $291.08.

About International Business Machines

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.