International Business Machines Co. (NYSE:IBM) Stock Position Trimmed by Godsey & Gibb Inc.

Godsey & Gibb Inc. lessened its holdings in shares of International Business Machines Co. (NYSE:IBM) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,342 shares of the technology company’s stock after selling 2,837 shares during the period. International Business Machines comprises approximately 2.6% of Godsey & Gibb Inc.’s investment portfolio, making the stock its 6th biggest position. Godsey & Gibb Inc.’s holdings in International Business Machines were worth $27,490,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of IBM. FPC Investment Advisory Inc. acquired a new position in International Business Machines during the 1st quarter valued at about $26,000. ESL Trust Services LLC purchased a new position in shares of International Business Machines during the 1st quarter valued at approximately $28,000. Financial Synergies Wealth Advisors Inc. lifted its stake in shares of International Business Machines by 164.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after purchasing an additional 123 shares during the period. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of International Business Machines during the 2nd quarter worth about $36,000. Finally, Wolff Wiese Magana LLC increased its stake in shares of International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the topic of a number of research reports. Royal Bank of Canada raised their price objective on International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Bernstein Bank raised their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. 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 report on Monday, September 30th. Jefferies Financial Group boosted their price target on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Finally, Stifel Nicolaus lifted their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Three 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $203.06.

International Business Machines Trading Down 0.3 %

Shares of IBM stock opened at $232.20 on Monday. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $237.37. The firm’s 50-day simple moving average is $212.19 and its 200-day simple moving average is $189.14. The firm has a market cap of $213.30 billion, a P/E ratio of 26.30, 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 announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The company had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. International Business Machines’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the business earned $2.18 EPS. As a group, equities analysts forecast that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 2.88%. International Business Machines’s dividend payout ratio is presently 75.65%.

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.