Wedge Capital Management L L P NC Sells 91 Shares of International Business Machines Co. (NYSE:IBM)

Wedge Capital Management L L P NC reduced its holdings in shares of International Business Machines Co. (NYSE:IBM) by 5.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,680 shares of the technology company’s stock after selling 91 shares during the quarter. Wedge Capital Management L L P NC’s holdings in International Business Machines were worth $371,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. FPC Investment Advisory Inc. bought a new position in International Business Machines during the first quarter worth $26,000. ESL Trust Services LLC bought a new position in International Business Machines during the 1st quarter worth $28,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines in the 2nd quarter worth about $36,000. Financial Synergies Wealth Advisors Inc. boosted its stake in shares of International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after buying an additional 123 shares during the period. Finally, Wolff Wiese Magana LLC lifted its position in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after acquiring an additional 60 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

NYSE IBM opened at $232.85 on Friday. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $237.37. The company has a fifty day moving average price of $211.38 and a 200-day moving average price of $188.85. The firm has a market cap of $213.90 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 5.21 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating 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 company had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the prior year, the business earned $2.18 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities research analysts predict that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 2.87%. International Business Machines’s payout ratio is 75.65%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Jefferies Financial Group raised their price target on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. BMO Capital Markets lifted their price objective on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Stifel Nicolaus upped their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $203.06.

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.