Linscomb Wealth Inc. Sells 8,290 Shares of International Business Machines Co. (NYSE:IBM)

Linscomb Wealth Inc. reduced its position in International Business Machines Co. (NYSE:IBM - Free Report) by 42.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 11,306 shares of the technology company's stock after selling 8,290 shares during the period. Linscomb Wealth Inc.'s holdings in International Business Machines were worth $2,500,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IBM. ESL Trust Services LLC purchased a new position in shares of International Business Machines during the first quarter worth about $28,000. Hazlett Burt & Watson Inc. lifted its position in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company's stock worth $29,000 after buying an additional 116 shares during the last quarter. Hara Capital LLC bought a new stake in International Business Machines in the 3rd quarter worth approximately $29,000. Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines in the 2nd quarter worth approximately $36,000. Finally, Wolff Wiese Magana LLC lifted its position in International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company's stock worth $38,000 after buying an additional 60 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Performance

Shares of International Business Machines stock traded down $4.00 during trading on Friday, hitting $204.99. 3,966,218 shares of the company's stock traded hands, compared to its average volume of 4,237,182. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. International Business Machines Co. has a 1 year low of $152.13 and a 1 year high of $237.37. The stock has a market capitalization of $189.54 billion, a P/E ratio of 30.12, a PEG ratio of 4.74 and a beta of 0.71. The business has a 50-day simple moving average of $218.70 and a 200-day simple moving average of $193.22.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion for the quarter, compared to analysts' expectations of $15.08 billion. During the same period last year, the firm posted $2.20 earnings per share. International Business Machines's revenue was up 1.5% compared to the same quarter last year. As a group, analysts forecast that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines's dividend payout ratio is 97.23%.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The stock was 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 represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on IBM. The Goldman Sachs Group boosted 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. StockNews.com upgraded International Business Machines from a "hold" rating to a "buy" rating in a research report on Tuesday. Royal Bank of Canada reiterated an "outperform" rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. Jefferies Financial Group boosted their price objective on International Business Machines from $200.00 to $245.00 and gave the company a "hold" rating in a research report on Monday, October 21st. Finally, Stifel Nicolaus upped their target price on International Business Machines from $205.00 to $246.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $208.12.

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.