Cedrus LLC Sells 716 Shares of International Business Machines Co. (NYSE:IBM)

Cedrus LLC trimmed its position in shares of International Business Machines Co. (NYSE:IBM) by 38.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,157 shares of the technology company’s stock after selling 716 shares during the period. Cedrus LLC’s holdings in International Business Machines were worth $256,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Ellenbecker Investment Group raised its stake in shares of International Business Machines by 2.3% in the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after buying an additional 46 shares during the period. Armbruster Capital Management Inc. raised its stake in International Business Machines by 2.3% in the 2nd quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock valued at $432,000 after acquiring an additional 56 shares during the period. Aspect Partners LLC lifted its holdings in International Business Machines by 11.2% during the third quarter. Aspect Partners LLC now owns 554 shares of the technology company’s stock valued at $122,000 after purchasing an additional 56 shares during the last quarter. CVA Family Office LLC boosted its position in International Business Machines by 3.3% during the second 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. Finally, Mill Creek Capital Advisors LLC increased its stake in shares of International Business Machines by 5.1% in the second quarter. Mill Creek Capital Advisors LLC now owns 1,165 shares of the technology company’s stock worth $201,000 after purchasing an additional 57 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on IBM shares. Evercore ISI raised their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Bank of America increased their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. UBS Group lifted their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Finally, Morgan Stanley increased their price target on shares of International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $203.06.

International Business Machines Stock Down 0.3 %

Shares of NYSE:IBM opened at $232.20 on Monday. The firm has a fifty day moving average of $212.19 and a 200 day moving average of $189.14. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $237.37. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The firm has a market capitalization of $213.30 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70.

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

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $1.67 dividend. 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 2.88%. International Business Machines’s dividend payout ratio (DPR) 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.