International Business Machines Co. (NYSE:IBM) Holdings Cut by Empire Financial Management Company LLC

Empire Financial Management Company LLC reduced its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 9.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,096 shares of the technology company's stock after selling 3,011 shares during the quarter. International Business Machines accounts for approximately 2.0% of Empire Financial Management Company LLC's portfolio, making the stock its 6th largest holding. Empire Financial Management Company LLC's holdings in International Business Machines were worth $6,654,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Gould Capital LLC grew its position in International Business Machines by 16.3% during the third quarter. Gould Capital LLC now owns 721 shares of the technology company's stock worth $159,000 after buying an additional 101 shares during the period. Orion Capital Management LLC grew its position in International Business Machines by 1.9% during the third quarter. Orion Capital Management LLC now owns 2,629 shares of the technology company's stock worth $581,000 after buying an additional 50 shares during the period. FRG Family Wealth Advisors LLC purchased a new stake in shares of International Business Machines in the third quarter valued at about $214,000. Brophy Wealth Management LLC purchased a new stake in shares of International Business Machines in the third quarter valued at about $559,000. Finally, LRI Investments LLC lifted its holdings in shares of International Business Machines by 7.5% in the third quarter. LRI Investments LLC now owns 4,416 shares of the technology company's stock valued at $923,000 after purchasing an additional 310 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares of the company's stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.07% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Morgan Stanley reduced their price target on shares of International Business Machines from $217.00 to $208.00 and set an "equal weight" rating on the stock in a report on Thursday, October 24th. The Goldman Sachs Group upped their price target on shares of International Business Machines from $220.00 to $250.00 and gave the company a "buy" rating in a report on Monday, September 30th. UBS Group upped their price target on shares of International Business Machines from $130.00 to $145.00 and gave the company a "sell" rating in a report on Wednesday, September 4th. Stifel Nicolaus upped their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group upped their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a "hold" rating in a research note on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $208.12.

International Business Machines Trading Down 0.6 %

Shares of IBM traded down $1.40 during mid-day trading on Wednesday, reaching $230.32. The company had a trading volume of 2,090,468 shares, compared to its average volume of 4,225,095. The stock has a market cap of $212.97 billion, a price-to-earnings ratio of 33.83, a price-to-earnings-growth ratio of 5.16 and a beta of 0.73. The firm has a fifty day simple moving average of $222.17 and a 200-day simple moving average of $200.70. International Business Machines Co. has a fifty-two week low of $157.88 and a fifty-two week high of $239.35. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts' consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same quarter last year, the business earned $2.20 EPS. International Business Machines's revenue for the quarter was up 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were paid 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 was Tuesday, November 12th. International Business Machines's dividend payout ratio is presently 97.23%.

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.