Marotta Asset Management Reduces Stock Position in International Business Machines Co. (NYSE:IBM)

Marotta Asset Management decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 3.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,660 shares of the technology company’s stock after selling 60 shares during the quarter. Marotta Asset Management’s holdings in International Business Machines were worth $367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of IBM. FPC Investment Advisory Inc. purchased a new position in International Business Machines during the first quarter valued at approximately $26,000. ESL Trust Services LLC purchased a new position in shares of International Business Machines during the 1st quarter valued at $28,000. Creekmur Asset Management LLC bought a new position in shares of International Business Machines in the fourth quarter worth $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of International Business Machines in the fourth quarter worth $31,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines during the second quarter valued at $36,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 1.4 %

Shares of IBM stock opened at $222.70 on Friday. The business has a 50-day moving average of $202.93 and a 200 day moving average of $186.04. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $224.15. The stock has a market capitalization of $204.57 billion, a PE ratio of 25.22, a P/E/G ratio of 4.90 and a beta of 0.70.

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

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given 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 was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on IBM shares. Bernstein Bank raised their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday. Jefferies Financial Group raised their target price on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Royal Bank of Canada lifted their target price on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. UBS Group increased their price target on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Finally, The Goldman Sachs Group lifted their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $194.35.

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.