Centric Wealth Management Has $490,000 Stock Position in International Business Machines Co. (NYSE:IBM)

Centric Wealth Management lessened its position in shares of International Business Machines Co. (NYSE:IBM) by 4.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,293 shares of the technology company’s stock after selling 105 shares during the period. Centric Wealth Management’s holdings in International Business Machines were worth $490,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Teachers Insurance & Annuity Association of America acquired a new stake in International Business Machines in the third quarter valued at about $185,000. Vinva Investment Management Ltd bought a new stake in International Business Machines in the third quarter valued at $599,000. Noesis Capital Mangement Corp raised its holdings in shares of International Business Machines by 4.4% during the third quarter. Noesis Capital Mangement Corp now owns 1,404 shares of the technology company’s stock valued at $310,000 after purchasing an additional 59 shares during the period. Public Sector Pension Investment Board raised its holdings in shares of International Business Machines by 13.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 40,396 shares of the technology company’s stock worth $8,931,000 after acquiring an additional 4,900 shares during the last quarter. Finally, Fiduciary Trust Co lifted its position in International Business Machines by 0.8% in the 3rd quarter. Fiduciary Trust Co now owns 53,294 shares of the technology company’s stock valued at $11,782,000 after acquiring an additional 434 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Thursday, October 24th. Evercore ISI raised their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Bernstein Bank upped their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research note on Wednesday, October 2nd. Finally, StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Three investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $208.12.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.07% of the stock is owned by insiders.

International Business Machines Stock Performance

International Business Machines stock opened at $226.92 on Friday. The firm has a fifty day simple moving average of $220.43 and a two-hundred day simple moving average of $196.86. International Business Machines Co. has a twelve month low of $154.86 and a twelve month high of $237.37. The company has a market capitalization of $209.82 billion, a PE ratio of 33.03, a P/E/G ratio of 5.09 and a beta of 0.71. 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 (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the company earned $2.20 EPS. Research analysts expect that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

About International Business Machines

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.