International Business Machines Corporation $IBM Shares Sold by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. trimmed its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 34.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,333 shares of the technology company’s stock after selling 2,787 shares during the period. Legacy Financial Advisors Inc.’s holdings in International Business Machines were worth $1,505,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. CFS Investment Advisory Services LLC lifted its holdings in International Business Machines by 0.4% in the third quarter. CFS Investment Advisory Services LLC now owns 9,359 shares of the technology company’s stock valued at $2,878,000 after acquiring an additional 34 shares during the period. KPP Advisory Services LLC increased its holdings in shares of International Business Machines by 1.7% in the 3rd quarter. KPP Advisory Services LLC now owns 2,069 shares of the technology company’s stock valued at $584,000 after purchasing an additional 34 shares in the last quarter. Marco Investment Management LLC lifted its stake in shares of International Business Machines by 0.3% in the third quarter. Marco Investment Management LLC now owns 10,774 shares of the technology company’s stock valued at $3,040,000 after purchasing an additional 34 shares during the period. MA Private Wealth boosted its holdings in International Business Machines by 1.5% during the third quarter. MA Private Wealth now owns 2,242 shares of the technology company’s stock worth $633,000 after buying an additional 34 shares in the last quarter. Finally, Ignite Planners LLC increased its holdings in International Business Machines by 0.9% in the third quarter. Ignite Planners LLC now owns 4,000 shares of the technology company’s stock valued at $1,129,000 after buying an additional 36 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Jefferies Financial Group boosted their price target on International Business Machines from $360.00 to $370.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. lifted their price objective on International Business Machines from $312.00 to $317.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. UBS Group set a $317.00 target price on International Business Machines in a report on Thursday, January 29th. Stifel Nicolaus raised their price target on International Business Machines from $325.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Finally, Royal Bank Of Canada set a $361.00 target price on shares of International Business Machines in a report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $330.07.

Insiders Place Their Bets

In other International Business Machines news, Director David N. Farr purchased 1,000 shares of the business’s stock in a transaction on Friday, January 30th. The stock was bought at an average cost of $304.00 per share, for a total transaction of $304,000.00. Following the acquisition, the director owned 9,258 shares of the company’s stock, valued at approximately $2,814,432. The trade was a 12.11% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.18% of the company’s stock.

International Business Machines Trading Up 0.4%

International Business Machines stock opened at $257.20 on Monday. The stock has a 50-day moving average price of $294.08 and a 200 day moving average price of $284.45. 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 $240.41 billion, a PE ratio of 23.07, a P/E/G ratio of 2.58 and a beta of 0.69. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 1.67.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 28th. The technology company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.33 by $0.19. The company had revenue of $19.69 billion for the quarter, compared to analysts’ expectations of $19.23 billion. International Business Machines had a net margin of 15.69% and a return on equity of 38.15%. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the company earned $3.92 EPS. Equities research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 10th will be paid a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, February 10th. International Business Machines’s payout ratio is presently 60.27%.

International Business Machines Company Profile

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.