Goelzer Investment Management Inc. Sells 388 Shares of International Business Machines Co. (NYSE:IBM)

Goelzer Investment Management Inc. lessened its position in shares of International Business Machines Co. (NYSE:IBM) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,569 shares of the technology company’s stock after selling 388 shares during the quarter. Goelzer Investment Management Inc.’s holdings in International Business Machines were worth $8,085,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IBM. Triton Wealth Management PLLC acquired a new position in International Business Machines during the 3rd quarter valued at approximately $228,000. MRA Advisory Group grew its holdings in shares of International Business Machines by 28.0% during the third quarter. MRA Advisory Group now owns 2,213 shares of the technology company’s stock valued at $489,000 after buying an additional 484 shares during the last quarter. Duncan Williams Asset Management LLC acquired a new position in shares of International Business Machines in the 3rd quarter valued at $234,000. CJM Wealth Advisers Ltd. raised its stake in International Business Machines by 6.1% in the 3rd quarter. CJM Wealth Advisers Ltd. now owns 4,423 shares of the technology company’s stock worth $978,000 after acquiring an additional 256 shares during the last quarter. Finally, Apella Capital LLC lifted its position in International Business Machines by 16.1% during the 3rd quarter. Apella Capital LLC now owns 4,799 shares of the technology company’s stock worth $1,054,000 after acquiring an additional 667 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 1.5 %

Shares of International Business Machines stock traded up $3.28 during trading hours on Friday, reaching $226.00. The stock had a trading volume of 3,554,328 shares, compared to its average volume of 4,222,131. 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 Co. has a 1 year low of $135.87 and a 1 year high of $226.08. The firm has a market capitalization of $207.60 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 4.90 and a beta of 0.70. The firm has a 50 day simple moving average of $203.61 and a two-hundred day simple moving average of $186.27.

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

International Business Machines Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on IBM shares. BMO Capital Markets upped their target price on 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. Bernstein Bank upped 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. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Evercore ISI upped their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Finally, The Goldman Sachs Group lifted their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $194.35.

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.