Cetera Investment Advisers Sells 9,358 Shares of International Business Machines Co. (NYSE:IBM)

Cetera Investment Advisers reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 284,090 shares of the technology company’s stock after selling 9,358 shares during the period. Cetera Investment Advisers’ holdings in International Business Machines were worth $49,134,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Susquehanna Fundamental Investments LLC bought a new position in shares of International Business Machines during the second quarter worth about $7,160,000. Mosley Wealth Management acquired a new stake in International Business Machines during the 4th quarter valued at approximately $312,000. Hodges Capital Management Inc. raised its holdings in International Business Machines by 60.8% during the 1st quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock worth $3,921,000 after purchasing an additional 7,768 shares during the last quarter. Burns J W & Co. Inc. NY lifted its position in shares of International Business Machines by 10.8% in the 1st quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock worth $491,000 after purchasing an additional 250 shares during the period. Finally, 1832 Asset Management L.P. acquired a new stake in shares of International Business Machines during the fourth quarter worth $3,017,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Down 0.8 %

NYSE:IBM opened at $219.36 on Wednesday. International Business Machines Co. has a one year low of $135.87 and a one year high of $224.15. The company has a market cap of $201.50 billion, a PE ratio of 24.84, a PEG ratio of 4.90 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The firm has a 50-day moving average of $201.62 and a 200-day moving average of $185.54.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.16 by $0.27. The firm had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.18 earnings per share. As a group, equities research analysts expect that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday. Royal Bank of Canada upped their target price on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Stifel Nicolaus raised their price objective on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, UBS Group boosted their target price on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $191.93.

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.