Leelyn Smith LLC Decreases Stock Holdings in International Business Machines Co. (NYSE:IBM)

Leelyn Smith LLC lowered its stake in International Business Machines Co. (NYSE:IBM) by 0.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,399 shares of the technology company’s stock after selling 157 shares during the quarter. Leelyn Smith LLC’s holdings in International Business Machines were worth $3,625,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Nwam LLC bought a new stake in shares of International Business Machines during the 3rd quarter valued at about $2,139,000. Meridian Wealth Management LLC purchased a new position in shares of International Business Machines in the third quarter worth approximately $12,802,000. GM Advisory Group LLC grew its position in International Business Machines by 1.1% during the third quarter. GM Advisory Group LLC now owns 5,214 shares of the technology company’s stock valued at $1,153,000 after buying an additional 58 shares during the period. Allen Capital Group LLC increased its holdings in International Business Machines by 1.9% during the third quarter. Allen Capital Group LLC now owns 22,246 shares of the technology company’s stock valued at $4,918,000 after buying an additional 408 shares during the last quarter. Finally, Raymond James Trust N.A. raised its position in International Business Machines by 17.1% in the third quarter. Raymond James Trust N.A. now owns 58,695 shares of the technology company’s stock worth $12,976,000 after acquiring an additional 8,552 shares during the period. Institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Evercore ISI upped their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Bank of America upped their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group lifted their price objective on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a report on Thursday, October 24th. Finally, Bernstein Bank lifted their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $208.12.

International Business Machines Price Performance

Shares of IBM opened at $223.02 on Friday. The company has a 50 day moving average of $219.45 and a two-hundred day moving average of $195.21. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a twelve month low of $153.92 and a twelve month high of $237.37. The company has a market cap of $206.21 billion, a price-to-earnings ratio of 32.46, a price-to-earnings-growth ratio of 4.99 and a beta of 0.71.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.20 earnings per share. As a group, analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.07% of the company’s stock.

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.