Thrive Wealth Management LLC Lowers Holdings in International Business Machines Co. (NYSE:IBM)

Thrive Wealth Management LLC trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,876 shares of the technology company’s stock after selling 73 shares during the quarter. Thrive Wealth Management LLC’s holdings in International Business Machines were worth $1,520,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in International Business Machines by 6.7% in the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after buying an additional 5,546,855 shares during the last quarter. Legal & General Group Plc increased its holdings in International Business Machines by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after purchasing an additional 330,694 shares during the last quarter. Ameriprise Financial Inc. grew its stake in International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after purchasing an additional 444,698 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in International Business Machines by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock valued at $829,431,000 after buying an additional 304,390 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after acquiring an additional 2,118,165 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

NYSE IBM traded up $3.28 during mid-day trading on Friday, hitting $226.00. The stock had a trading volume of 3,543,060 shares, compared to its average volume of 4,222,131. The stock has a market capitalization of $207.60 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 4.90 and a beta of 0.70. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $226.08. The firm’s 50 day moving average is $203.61 and its 200 day moving average is $186.27. 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 issued 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 business had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the previous year, the firm posted $2.18 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. Equities research analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.96%. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Analyst Upgrades and Downgrades

IBM has been the subject of several research analyst reports. Bernstein Bank raised their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. UBS Group lifted their price objective 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. BMO Capital Markets upped their target price on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus boosted their target price on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $194.35.

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.