Altrius Capital Management Inc Sells 1,899 Shares of International Business Machines Co. (NYSE:IBM)

Altrius Capital Management Inc cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 7.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,985 shares of the technology company’s stock after selling 1,899 shares during the quarter. International Business Machines accounts for about 1.4% of Altrius Capital Management Inc’s portfolio, making the stock its 27th largest position. Altrius Capital Management Inc’s holdings in International Business Machines were worth $5,524,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in IBM. ESL Trust Services LLC acquired a new position in shares of International Business Machines in the 1st quarter worth approximately $28,000. Hazlett Burt & Watson Inc. lifted its position in shares of International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares during the period. Hara Capital LLC acquired a new position in shares of International Business Machines during the 3rd quarter valued at $29,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of International Business Machines during the 2nd quarter valued at $36,000. Finally, Wolff Wiese Magana LLC lifted its position in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after acquiring an additional 60 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Performance

IBM stock traded down $1.79 during trading on Friday, reaching $207.20. The company had a trading volume of 628,273 shares, compared to its average volume of 4,222,072. The firm has a 50-day simple moving average of $218.70 and a 200-day simple moving average of $193.22. The company has a market cap of $191.59 billion, a price-to-earnings ratio of 30.28, a price-to-earnings-growth ratio of 4.74 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a twelve month low of $152.13 and a twelve month high of $237.37.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.20 EPS. As a group, sell-side analysts expect that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.22%. International Business Machines’s payout ratio is 97.23%.

Insider Activity at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.07% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on IBM. Stifel Nicolaus upped their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Morgan Stanley lowered their price objective on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. UBS Group upped their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Jefferies Financial Group upped their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Finally, Bank of America upped their target price on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines Company 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.