My Legacy Advisors LLC Sells 725 Shares of International Business Machines Co. (NYSE:IBM)

My Legacy Advisors LLC lessened its stake in International Business Machines Co. (NYSE:IBM) by 14.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,126 shares of the technology company’s stock after selling 725 shares during the quarter. My Legacy Advisors LLC’s holdings in International Business Machines were worth $912,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of 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 worth $16,833,642,000 after buying an additional 5,546,855 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of International Business Machines by 151.6% during 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 during the last quarter. Thrivent Financial for Lutherans increased its position in International Business Machines by 306.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after purchasing an additional 1,056,759 shares during the period. Strategic Financial Concepts LLC raised its position in shares of International Business Machines by 12,282.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock worth $817,000 after acquiring an additional 468,567 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in International Business Machines by 6.4% during the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after buying an additional 444,698 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IBM. Morgan Stanley lifted their target price on shares of International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. BMO Capital Markets raised their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. UBS Group increased their price target on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Finally, Bernstein Bank increased their target price on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $205.71.

International Business Machines Price Performance

NYSE:IBM traded up $0.47 on Tuesday, reaching $232.22. 1,314,465 shares of the company’s stock traded hands, compared to its average volume of 4,174,376. The stock has a 50-day simple moving average of $213.04 and a 200-day simple moving average of $189.45. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $237.37. The firm has a market cap of $213.32 billion, a PE ratio of 26.18, a P/E/G ratio of 5.21 and a beta of 0.70. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter last year, the company earned $2.18 EPS. The firm’s quarterly 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 year.

International Business Machines Dividend Announcement

The business 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. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 2.88%. International Business Machines’s payout ratio is 75.65%.

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.