Core Wealth Advisors Inc. Sells 2,256 Shares of International Business Machines Co. (NYSE:IBM)

Core Wealth Advisors Inc. decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 19.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 9,178 shares of the technology company’s stock after selling 2,256 shares during the period. International Business Machines accounts for 0.5% of Core Wealth Advisors Inc.’s portfolio, making the stock its 25th largest position. Core Wealth Advisors Inc.’s holdings in International Business Machines were worth $1,587,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of IBM. Mosley Wealth Management bought a new position in International Business Machines in the fourth quarter worth approximately $312,000. Hodges Capital Management Inc. grew its position in shares of 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 buying an additional 7,768 shares in the last quarter. Burns J W & Co. Inc. NY increased its stake in shares of International Business Machines by 10.8% during the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock valued at $491,000 after buying an additional 250 shares during the period. 1832 Asset Management L.P. bought a new stake in shares of International Business Machines in the fourth quarter valued at about $3,017,000. Finally, Westwood Holdings Group Inc. grew its holdings in International Business Machines by 19.9% during the 4th quarter. Westwood Holdings Group Inc. now owns 115,321 shares of the technology company’s stock worth $18,861,000 after acquiring an additional 19,175 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Trading Down 1.2 %

Shares of IBM stock opened at $220.80 on Friday. The company has a 50-day moving average of $200.17 and a two-hundred day moving average of $185.32. The firm has a market cap of $202.83 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 4.90 and a beta of 0.70. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $224.15. 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 (NYSE:IBM) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share 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 firm had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter last year, the firm earned $2.18 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, analysts predict that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors 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 3.03%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. BMO Capital Markets increased their target price on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. The Goldman Sachs Group assumed coverage on International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price on the stock. Stifel Nicolaus boosted their target price 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. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Finally, Evercore ISI increased their target price on 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 assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus 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.