Compass Ion Advisors LLC Sells 353 Shares of International Business Machines Co. (NYSE:IBM)

by · The Cerbat Gem

Compass Ion Advisors LLC lessened its holdings in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,273 shares of the technology company’s stock after selling 353 shares during the quarter. Compass Ion Advisors LLC’s holdings in International Business Machines were worth $2,271,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after purchasing an additional 5,546,855 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after purchasing an additional 2,118,165 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of International Business Machines by 306.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after buying an additional 1,056,759 shares during the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of International Business Machines by 12,282.2% during the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock worth $817,000 after buying an additional 468,567 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after buying an additional 444,698 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on IBM. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Jefferies Financial Group increased their target price on 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 target on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Royal Bank of Canada increased their price objective on International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Finally, Bernstein Bank boosted their target price on shares of 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. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $203.06.

View Our Latest Stock Report on International Business Machines

International Business Machines Price Performance

NYSE IBM traded down $0.68 during trading on Friday, reaching $232.20. 4,715,688 shares of the company traded hands, compared to its average volume of 4,195,661. The stock’s 50 day moving average price is $212.19 and its two-hundred day moving average price is $189.15. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $237.37. The company has a market cap of $213.30 billion, a price-to-earnings ratio of 26.30, a P/E/G ratio of 5.21 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12.

International Business Machines (NYSE:IBM – Get Free Report) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS 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 for the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the previous year, the company earned $2.18 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The company 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. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

International Business Machines Company Profile

(Free Report)

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.

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