International Business Machines Co. (NYSE:IBM) Shares Sold by Joule Financial LLC

Joule Financial LLC reduced its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 42.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,409 shares of the technology company's stock after selling 4,058 shares during the period. Joule Financial LLC's holdings in International Business Machines were worth $1,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company's stock valued at $16,833,642,000 after buying an additional 5,546,855 shares during the last quarter. Legal & General Group Plc raised its stake in shares of International Business Machines by 4.1% in the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company's stock worth $1,467,974,000 after purchasing an additional 330,694 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of International Business Machines by 6.4% during the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company's stock worth $1,274,074,000 after purchasing an additional 444,698 shares during the period. Dimensional Fund Advisors LP increased its holdings in International Business Machines by 6.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company's stock worth $829,431,000 after buying an additional 304,390 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in International Business Machines by 151.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company's stock worth $671,352,000 after buying an additional 2,118,165 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of IBM stock traded down $0.66 on Friday, reaching $232.22. 4,713,839 shares of the company were exchanged, compared to its average volume of 4,195,661. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $237.37. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The business has a 50-day moving average price of $212.19 and a 200 day moving average price of $189.15. The company has a market cap of $213.32 billion, a price-to-earnings ratio of 26.30, a P/E/G ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.16 by $0.27. The company had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. International Business Machines's quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.18 EPS. Equities research analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 2.88%. International Business Machines's dividend payout ratio (DPR) is presently 75.65%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of International Business Machines from $182.00 to $217.00 and gave the company an "equal weight" rating in a report on Thursday. Stifel Nicolaus increased their price target on International Business Machines from $205.00 to $246.00 and gave the stock a "buy" rating in a research report on Wednesday. DZ Bank cut International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 price objective for the company. in a report on Wednesday, October 2nd. Hsbc Global Res raised International Business Machines to a "moderate sell" rating in a report on Friday, July 26th. Finally, Evercore ISI boosted their price target on International Business Machines from $215.00 to $240.00 and gave the company an "outperform" rating in a report on Wednesday, September 11th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $203.06.

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.