Diversify Advisory Services LLC Cuts Stock Position in International Business Machines Co. (NYSE:IBM)

Diversify Advisory Services LLC reduced its stake in International Business Machines Co. (NYSE:IBM - Free Report) by 19.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,089 shares of the technology company's stock after selling 3,637 shares during the quarter. Diversify Advisory Services LLC's holdings in International Business Machines were worth $3,504,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. FPC Investment Advisory Inc. bought a new position in International Business Machines in the 1st quarter valued at approximately $26,000. ESL Trust Services LLC bought a new position in International Business Machines in the 1st quarter valued at approximately $28,000. Oliver Lagore Vanvalin Investment Group bought a new position in International Business Machines in the 2nd quarter valued at approximately $36,000. 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 valued at $38,000 after acquiring an additional 60 shares in the last quarter. Finally, Briaud Financial Planning Inc lifted its position in International Business Machines by 54.3% in the 2nd quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company's stock valued at $49,000 after acquiring an additional 100 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Price Performance

IBM traded down $2.48 on Tuesday, hitting $210.43. 5,255,939 shares of the company's stock traded hands, compared to its average volume of 4,254,327. International Business Machines Co. has a one year low of $142.58 and a one year high of $237.37. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The firm has a market cap of $193.30 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 4.84 and a beta of 0.70. The company's 50 day simple moving average is $216.23 and its 200-day simple moving average is $190.85.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 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 the consensus estimate of $15.08 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company's quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.20 earnings per share. As a group, research analysts anticipate that International Business Machines Co. will post 10.13 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Hsbc Global Res raised International Business Machines to a "moderate sell" rating in a report on Friday, July 26th. Jefferies Financial Group increased their price target on International Business Machines from $200.00 to $245.00 and gave the company a "hold" rating in a report on Monday, October 21st. Bernstein Bank increased their price target on International Business Machines from $185.00 to $210.00 and gave the company a "market perform" rating in a report on Thursday, October 3rd. BMO Capital Markets increased their price target on International Business Machines from $235.00 to $260.00 and gave the company a "market perform" rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock 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.