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Bard Financial Services Inc. Sells 18,470 Shares of International Business Machines Co. (NYSE:IBM)

International Business Machines logo with Computer and Technology background

Bard Financial Services Inc. lowered its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 59.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 12,390 shares of the technology company's stock after selling 18,470 shares during the quarter. Bard Financial Services Inc.'s holdings in International Business Machines were worth $2,739,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Ellenbecker Investment Group grew its stake in shares of International Business Machines by 2.3% in the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company's stock worth $453,000 after acquiring an additional 46 shares during the last quarter. Goldstein Advisors LLC increased its position in shares of International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company's stock valued at $269,000 after acquiring an additional 47 shares in the last quarter. Vertex Planning Partners LLC raised its holdings in International Business Machines by 3.6% in the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company's stock worth $298,000 after acquiring an additional 47 shares during the last quarter. Sollinda Capital Management LLC boosted its stake in International Business Machines by 3.7% during the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company's stock valued at $301,000 after purchasing an additional 49 shares during the last quarter. Finally, Lansing Street Advisors increased its holdings in shares of International Business Machines by 3.4% in the 3rd quarter. Lansing Street Advisors now owns 1,503 shares of the technology company's stock worth $332,000 after purchasing an additional 49 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the subject of several research analyst reports. Evercore ISI lifted their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an "outperform" rating in a report on Wednesday, September 11th. Bernstein Bank lifted their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a "market perform" rating in a research report on Thursday, October 3rd. Bank of America increased their price target on International Business Machines from $209.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. The Goldman Sachs Group upped their price objective on International Business Machines from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Finally, DZ Bank cut International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, International Business Machines has a consensus rating of "Hold" and an average price target of $208.12.

Check Out Our Latest Stock Analysis on IBM

Insider Buying and Selling

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 stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares of the company's stock, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.07% of the stock is currently owned by company insiders.

International Business Machines Price Performance

Shares of IBM stock traded down $1.61 during mid-day trading on Wednesday, hitting $230.11. The company had a trading volume of 3,871,822 shares, compared to its average volume of 4,232,944. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The company has a market capitalization of $212.77 billion, a P/E ratio of 33.83, a P/E/G ratio of 5.16 and a beta of 0.73. The stock's 50 day moving average price is $222.17 and its 200-day moving average price is $200.70. International Business Machines Co. has a 52-week low of $157.88 and a 52-week high of $239.35.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to analysts' expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business's revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.20 earnings per share. Equities research analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines's dividend payout ratio (DPR) is presently 97.23%.

International Business Machines Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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