Prestige Wealth Management Group LLC Sells 70 Shares of International Business Machines Co. (NYSE:IBM)

Prestige Wealth Management Group LLC lowered its holdings in shares of International Business Machines Co. (NYSE:IBM) by 12.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 493 shares of the technology company’s stock after selling 70 shares during the period. Prestige Wealth Management Group LLC’s holdings in International Business Machines were worth $85,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Arden Trust Co lifted its stake in shares of International Business Machines by 2.8% in the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock worth $377,000 after purchasing an additional 54 shares during the period. Armbruster Capital Management Inc. raised its position in International Business Machines by 2.3% in the second quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock worth $432,000 after acquiring an additional 56 shares during the period. CVA Family Office LLC boosted its stake in shares of International Business Machines by 3.3% during the 2nd quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock worth $311,000 after acquiring an additional 57 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in shares of International Business Machines by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after acquiring an additional 58 shares during the period. Finally, Peddock Capital Advisors LLC raised its holdings in International Business Machines by 0.6% in the 2nd quarter. Peddock Capital Advisors LLC now owns 10,040 shares of the technology company’s stock worth $1,736,000 after purchasing an additional 58 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

International Business Machines stock opened at $200.74 on Monday. The company’s 50-day moving average price is $189.52 and its 200-day moving average price is $182.52. 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 has a market cap of $184.91 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 4.47 and a beta of 0.70. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $205.95.

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

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be given a $1.67 dividend. The ex-dividend date is Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.33%. International Business Machines’s dividend payout ratio is presently 75.65%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Jefferies Financial Group boosted their price objective on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Stifel Nicolaus raised their target price on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada upped their price target on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, BMO Capital Markets raised 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. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $185.93.

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.