Bogart Wealth LLC Sells 9,673 Shares of International Business Machines Co. (NYSE:IBM)

Bogart Wealth LLC reduced its stake in International Business Machines Co. (NYSE:IBM) by 12.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,009 shares of the technology company’s stock after selling 9,673 shares during the quarter. International Business Machines comprises approximately 0.7% of Bogart Wealth LLC’s holdings, making the stock its 27th largest position. Bogart Wealth LLC’s holdings in International Business Machines were worth $14,593,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new stake in shares of International Business Machines during the second quarter valued at $7,160,000. Hodges Capital Management Inc. grew its stake in shares of International Business Machines by 60.8% in the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock worth $3,921,000 after acquiring an additional 7,768 shares during the period. Burns J W & Co. Inc. NY raised its holdings 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 purchasing an additional 250 shares during the last quarter. Smith Thornton Advisors LLC bought a new position in International Business Machines during the second quarter valued at approximately $702,000. Finally, Retirement Planning Group LLC purchased a new stake in International Business Machines in the third quarter worth approximately $618,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IBM. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a report on Wednesday, October 2nd. Evercore ISI raised their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. The Goldman Sachs Group upped their price target on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Finally, UBS Group boosted their target price 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. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines has an average rating of “Hold” and a consensus price target of $208.65.

International Business Machines Stock Down 6.7 %

NYSE IBM traded down $15.66 on Thursday, hitting $217.09. The stock had a trading volume of 6,122,067 shares, compared to its average volume of 4,200,738. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The stock has a market cap of $199.42 billion, a price-to-earnings ratio of 24.71, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a 52-week low of $136.33 and a 52-week high of $237.37. The business’s fifty day moving average price is $214.67 and its 200 day moving average price is $190.05.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.05. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.20 earnings per share. Equities research analysts anticipate 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 declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.08%. International Business Machines’s dividend payout ratio (DPR) is presently 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.