ASB Consultores LLC Sells 797 Shares of International Business Machines Co. (NYSE:IBM)

ASB Consultores LLC reduced its stake in International Business Machines Co. (NYSE:IBM) by 34.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,485 shares of the technology company’s stock after selling 797 shares during the period. ASB Consultores LLC’s holdings in International Business Machines were worth $257,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of IBM. FPC Investment Advisory Inc. bought a new stake in shares of International Business Machines during the 1st quarter valued at $26,000. ESL Trust Services LLC purchased a new position in International Business Machines during the 1st quarter valued at about $28,000. Creekmur Asset Management LLC bought a new stake in International Business Machines during the fourth quarter worth about $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in International Business Machines in the fourth quarter worth about $31,000. Finally, Financial Synergies Wealth Advisors Inc. increased its stake in shares of International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after purchasing an additional 123 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

IBM has been the topic of several recent research reports. Stifel Nicolaus upped their price target on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Evercore ISI increased their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. The Goldman Sachs Group started coverage on International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 price target for the company. Jefferies Financial Group increased their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, BMO Capital Markets lifted their target price on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” 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 stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $188.60.

International Business Machines Price Performance

Shares of IBM opened at $217.63 on Friday. The firm has a fifty day simple moving average of $196.52 and a two-hundred day simple moving average of $184.38. The firm has a market cap of $199.92 billion, a PE ratio of 24.65, a P/E/G ratio of 4.67 and a beta of 0.70. 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 1-year low of $135.87 and a 1-year high of $218.84.

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

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

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.