International Business Machines Co. (NYSE:IBM) Shares Sold by Nemes Rush Group LLC

Nemes Rush Group LLC reduced its holdings in International Business Machines Co. (NYSE:IBM) by 3.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,833 shares of the technology company’s stock after selling 103 shares during the quarter. Nemes Rush Group LLC’s holdings in International Business Machines were worth $490,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new position in shares of International Business Machines during the 1st quarter worth about $26,000. ESL Trust Services LLC purchased a new stake in International Business Machines in the first quarter valued at approximately $28,000. Creekmur Asset Management LLC acquired a new position in International Business Machines during the fourth quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. purchased a new position in International Business Machines during the fourth quarter worth approximately $31,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in shares of International Business Machines in the 2nd quarter valued at $36,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Down 1.2 %

Shares of NYSE IBM opened at $220.84 on Friday. The company has a market cap of $202.86 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 4.90 and a beta of 0.70. The stock’s 50 day simple moving average is $200.17 and its 200 day simple moving average is $185.23. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $224.15.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (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 during the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the previous year, the company posted $2.18 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts expect that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.02%. International Business Machines’s payout ratio is currently 75.65%.

Wall Street Analyst Weigh In

IBM has been the subject of a number of research analyst reports. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. The Goldman Sachs Group began coverage on International Business Machines in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 price target for the company. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. UBS Group boosted their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Finally, Evercore ISI raised their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $188.60.

International Business Machines 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.