Gateway Investment Advisers LLC Sells 120 Shares of International Business Machines Co. (NYSE:IBM)

Gateway Investment Advisers LLC cut its stake in International Business Machines Co. (NYSE:IBM) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,840 shares of the technology company’s stock after selling 120 shares during the period. Gateway Investment Advisers LLC’s holdings in International Business Machines were worth $1,291,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. FPC Investment Advisory Inc. bought a new stake in shares of International Business Machines during the first quarter worth approximately $26,000. ESL Trust Services LLC bought a new stake in shares of International Business Machines during the first quarter worth approximately $28,000. Creekmur Asset Management LLC bought a new stake in shares of International Business Machines during the fourth quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of International Business Machines during the fourth quarter worth approximately $31,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines during the second quarter valued at approximately $36,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Performance

Shares of IBM stock opened at $233.26 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The company’s fifty day simple moving average is $207.67 and its 200-day simple moving average is $187.62. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $235.83. The firm has a market cap of $214.27 billion, a PE ratio of 26.42, a P/E/G ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period in the prior year, the firm posted $2.18 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities research analysts expect that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Friday, August 9th. International Business Machines’s payout ratio is presently 75.65%.

Analyst Ratings Changes

A number of research analysts recently issued reports on IBM shares. Bernstein Bank boosted their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Royal Bank of Canada boosted their price objective on shares of International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday. UBS Group boosted their price objective 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, Stifel Nicolaus upped their price target on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines has an average rating of “Hold” and an average price target of $198.41.

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.