Sowell Financial Services LLC Has $9.94 Million Stock Holdings in International Business Machines Corporation $IBM

Sowell Financial Services LLC trimmed its position in International Business Machines Corporation (NYSE:IBM) by 12.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,232 shares of the technology company’s stock after selling 4,934 shares during the quarter. Sowell Financial Services LLC’s holdings in International Business Machines were worth $9,941,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of IBM. Sovereign Financial Group Inc. raised its holdings in International Business Machines by 1.7% in the 3rd quarter. Sovereign Financial Group Inc. now owns 4,745 shares of the technology company’s stock worth $1,339,000 after acquiring an additional 80 shares during the period. Rede Wealth LLC grew its position in shares of International Business Machines by 327.5% in the third quarter. Rede Wealth LLC now owns 3,176 shares of the technology company’s stock valued at $896,000 after purchasing an additional 2,433 shares during the last quarter. NovaPoint Capital LLC increased its stake in shares of International Business Machines by 10.9% in the third quarter. NovaPoint Capital LLC now owns 23,892 shares of the technology company’s stock worth $6,741,000 after purchasing an additional 2,346 shares during the period. Apella Capital LLC increased its stake in shares of International Business Machines by 14.8% in the third quarter. Apella Capital LLC now owns 8,686 shares of the technology company’s stock worth $2,397,000 after purchasing an additional 1,120 shares during the period. Finally, Persium Advisors LLC lifted its position in shares of International Business Machines by 4.8% during the 3rd quarter. Persium Advisors LLC now owns 3,249 shares of the technology company’s stock worth $917,000 after purchasing an additional 148 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $305.22 on Friday. The firm has a market cap of $285.30 billion, a P/E ratio of 36.51, a price-to-earnings-growth ratio of 3.04 and a beta of 0.69. The firm’s 50-day simple moving average is $303.62 and its 200-day simple moving average is $280.86. International Business Machines Corporation has a twelve month low of $214.50 and a twelve month high of $324.90. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.89 and a current ratio of 0.93.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.20. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The firm had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.10 billion. During the same quarter last year, the company earned $2.30 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Monday, November 10th. International Business Machines’s dividend payout ratio is 80.38%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IBM. Jefferies Financial Group raised their target price on International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a report on Tuesday, October 21st. UBS Group restated a “sell” rating on shares of International Business Machines in a research note on Tuesday, December 9th. Stifel Nicolaus upped their target price on shares of International Business Machines from $295.00 to $325.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Royal Bank Of Canada decreased their price target on shares of International Business Machines from $315.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, October 23rd. Finally, Oppenheimer began coverage on shares of International Business Machines in a research report on Friday, November 21st. They set an “outperform” rating and a $360.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $293.38.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.