Park Avenue Securities LLC Reduces Stock Position in International Business Machines Co. (NYSE:IBM)

Park Avenue Securities LLC cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 7.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,495 shares of the technology company’s stock after selling 1,394 shares during the period. Park Avenue Securities LLC’s holdings in International Business Machines were worth $3,868,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of IBM. Susquehanna Fundamental Investments LLC bought a new position in International Business Machines in the second quarter valued at about $7,160,000. Mosley Wealth Management purchased a new position in shares of International Business Machines in the fourth quarter worth approximately $312,000. Hodges Capital Management Inc. grew its position in International Business Machines by 60.8% during the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock valued at $3,921,000 after buying an additional 7,768 shares during the period. Burns J W & Co. Inc. NY grew its position in International Business Machines by 10.8% during the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock valued at $491,000 after buying an additional 250 shares during the period. Finally, 1832 Asset Management L.P. bought a new position in International Business Machines in the fourth quarter worth approximately $3,017,000. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on IBM shares. BMO Capital Markets boosted their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a report on Wednesday. UBS Group lifted 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. Finally, The Goldman Sachs Group increased their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $194.35.

International Business Machines Stock Up 1.5 %

Shares of IBM opened at $226.00 on Friday. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The stock has a market capitalization of $207.60 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 4.90 and a beta of 0.70. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $226.08. The business’s 50 day simple moving average is $203.61 and its 200-day simple moving average is $186.23.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the prior year, the firm earned $2.18 earnings per share. International Business Machines’s revenue was up 1.9% on a year-over-year basis. As a group, equities analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 2.96%. International Business Machines’s dividend payout ratio is currently 75.65%.

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.