International Business Machines Corporation $IBM Stock Holdings Lowered by Sowell Financial Services LLC

Sowell Financial Services LLC cut its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 12.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,232 shares of the technology company’s stock after selling 4,934 shares during the period. Sowell Financial Services LLC’s holdings in International Business Machines were worth $9,941,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Family CFO Inc acquired a new position in shares of International Business Machines in the second quarter worth about $25,000. Winnow Wealth LLC acquired a new position in International Business Machines in the 2nd quarter worth approximately $27,000. Silicon Valley Capital Partners boosted its stake in International Business Machines by 322.6% in the 1st quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company’s stock worth $32,000 after purchasing an additional 100 shares during the period. Highline Wealth Partners LLC grew its position in International Business Machines by 85.0% during the 2nd quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock worth $33,000 after purchasing an additional 51 shares in the last quarter. Finally, Copia Wealth Management raised its stake in International Business Machines by 57.6% during the 2nd quarter. Copia Wealth Management now owns 134 shares of the technology company’s stock valued at $40,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Jefferies Financial Group lifted their price target on International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a report on Tuesday, October 21st. BMO Capital Markets raised their price objective on International Business Machines from $300.00 to $305.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. Oppenheimer started coverage on International Business Machines in a report on Friday, November 21st. They issued an “outperform” rating and a $360.00 target price on the stock. Weiss Ratings raised shares of International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research report on Saturday, October 25th. Finally, UBS Group reaffirmed a “sell” rating on shares of International Business Machines in a research report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Moderate Buy” and a consensus price target of $293.38.

International Business Machines Trading Up 0.2%

Shares of NYSE IBM opened at $305.22 on Friday. The business has a 50 day simple moving average of $303.62 and a 200 day simple moving average of $280.86. International Business Machines Corporation has a 52 week low of $214.50 and a 52 week high of $324.90. The stock has a market cap of $285.30 billion, a price-to-earnings ratio of 36.51, a PEG ratio of 3.04 and a beta of 0.69. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.89 and a current ratio of 0.93.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.20. The firm had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.10 billion. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.30 earnings per share. On average, research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Monday, November 10th were issued a $1.68 dividend. The ex-dividend date was Monday, November 10th. This represents a $6.72 dividend on an annualized basis and a yield of 2.2%. International Business Machines’s dividend payout ratio is currently 80.38%.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.