SteelPeak Wealth LLC Sells 59,096 Shares of International Business Machines Co. (NYSE:IBM)

SteelPeak Wealth LLC decreased its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 65.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 30,822 shares of the technology company's stock after selling 59,096 shares during the quarter. SteelPeak Wealth LLC's holdings in International Business Machines were worth $6,814,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company's stock worth $16,833,642,000 after acquiring an additional 5,546,855 shares during the period. Legal & General Group Plc increased its stake in 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 valued at $1,467,974,000 after acquiring an additional 330,694 shares during the period. Ameriprise Financial Inc. boosted its position in International Business Machines by 6.4% in the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company's stock valued at $1,274,074,000 after buying an additional 444,698 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in International Business Machines by 6.8% during the second 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 last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company's stock valued at $671,352,000 after acquiring an additional 2,118,165 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Stock Performance

Shares of NYSE:IBM traded down $3.90 during midday trading on Wednesday, reaching $206.53. The company had a trading volume of 2,004,016 shares, compared to its average volume of 4,243,625. The company's 50 day moving average price is $216.23 and its 200 day moving average price is $190.85. International Business Machines Co. has a 52-week low of $142.59 and a 52-week high of $237.37. The stock has a market cap of $189.72 billion, a P/E ratio of 23.53, a P/E/G ratio of 4.84 and a beta of 0.70. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts' consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the prior year, the company posted $2.20 EPS. International Business Machines's quarterly revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.13 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.23%. International Business Machines's dividend payout ratio (DPR) is currently 75.65%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IBM. Stifel Nicolaus raised their price target on International Business Machines from $205.00 to $246.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Evercore ISI upped their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 11th. Royal Bank of Canada reissued an "outperform" rating and issued a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. StockNews.com lowered International Business Machines from a "buy" rating to a "hold" rating in a research report on Friday, October 25th. Finally, Jefferies Financial Group lifted their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a "hold" rating in a research note on Monday, October 21st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $208.12.

International Business Machines Company 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.

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