Financial Advocates Investment Management Lowers Holdings in International Business Machines Co. (NYSE:IBM)

Financial Advocates Investment Management cut its position in shares of International Business Machines Co. (NYSE:IBM) by 1.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,511 shares of the technology company’s stock after selling 66 shares during the period. Financial Advocates Investment Management’s holdings in International Business Machines were worth $953,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Arden Trust Co grew its stake in shares of International Business Machines by 2.8% in the first quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock worth $377,000 after acquiring an additional 54 shares in the last quarter. CVA Family Office LLC increased its holdings in International Business Machines by 3.3% during the 2nd quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock worth $311,000 after purchasing an additional 57 shares during the period. Chicago Partners Investment Group LLC raised its position in International Business Machines by 0.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after purchasing an additional 58 shares in the last quarter. Peddock Capital Advisors LLC grew its position in shares of International Business Machines by 0.6% during the second quarter. Peddock Capital Advisors LLC now owns 10,040 shares of the technology company’s stock worth $1,736,000 after buying an additional 58 shares in the last quarter. Finally, Wolff Wiese Magana LLC raised its holdings in International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after acquiring an additional 60 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on IBM shares. Stifel Nicolaus increased their price objective on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Royal Bank of Canada upped their price objective on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. The Goldman Sachs Group initiated coverage on International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 target price on the stock. BNP Paribas started coverage on shares of International Business Machines in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price target on the stock. Finally, Jefferies Financial Group upped their target price on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $184.93.

International Business Machines Stock Performance

NYSE:IBM opened at $198.86 on Friday. 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 market cap of $182.67 billion, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 4.24 and a beta of 0.71. The firm’s fifty day moving average price is $185.48 and its 200 day moving average price is $181.71. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $201.12.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the company posted $2.18 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, sell-side analysts expect that International Business Machines Co. will post 10.06 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.36%. The ex-dividend date is Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

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.