2,705 International Business Machines Corporation $IBM Shares Acquired by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC grew its position in International Business Machines Corporation (NYSE:IBM) by 56.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,493 shares of the technology company’s stock after purchasing an additional 2,705 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in International Business Machines were worth $1,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Hughes Financial Services LLC boosted its stake in shares of International Business Machines by 19.6% in the third quarter. Hughes Financial Services LLC now owns 720 shares of the technology company’s stock worth $158,000 after acquiring an additional 118 shares during the period. Associated Banc Corp purchased a new stake in shares of International Business Machines during the third quarter worth about $4,053,000. Guardian Wealth Advisors LLC raised its stake in International Business Machines by 16.3% during the 3rd quarter. Guardian Wealth Advisors LLC now owns 1,613 shares of the technology company’s stock valued at $355,000 after purchasing an additional 226 shares during the period. Integrity Alliance LLC. raised its stake in International Business Machines by 0.5% during the 3rd quarter. Integrity Alliance LLC. now owns 18,045 shares of the technology company’s stock valued at $3,969,000 after purchasing an additional 97 shares during the period. Finally, Integrity Advisory Solutions LLC raised its stake in International Business Machines by 13.5% during the 3rd quarter. Integrity Advisory Solutions LLC now owns 3,212 shares of the technology company’s stock valued at $707,000 after purchasing an additional 383 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of International Business Machines stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total value of $5,758,000.00. Following the sale, the senior vice president owned 47,800 shares of the company’s stock, valued at $11,009,296. The trade was a 34.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.27% of the stock is currently owned by insiders.

International Business Machines Trading Down 1.1%

Shares of International Business Machines stock opened at $249.83 on Wednesday. International Business Machines Corporation has a twelve month low of $199.19 and a twelve month high of $332.46. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 1.57. The business has a 50-day moving average price of $235.88 and a 200-day moving average price of $249.39. The firm has a market cap of $236.12 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 2.49 and a beta of 0.78.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 21st. The technology company reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.10. The company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $16.82 billion. International Business Machines had a return on equity of 34.37% and a net margin of 15.99%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.65 earnings per share. Equities research analysts anticipate that International Business Machines Corporation will post 12.41 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Tuesday, November 10th will be issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, November 10th. International Business Machines’s dividend payout ratio (DPR) is currently 57.63%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on IBM shares. Evercore lowered their price target on International Business Machines from $310.00 to $250.00 and set an “outperform” rating on the stock in a report on Thursday, July 16th. Morgan Stanley increased their price objective on shares of International Business Machines from $238.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, October 22nd. Yorkville Ives initiated coverage on shares of International Business Machines in a research report on Monday, October 5th. They set an “outperform” rating and a $275.00 price objective on the stock. Citic Securities boosted their target price on shares of International Business Machines from $294.00 to $297.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, Robert W. Baird upped their target price on shares of International Business Machines from $230.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, October 22nd. Nineteen analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.12.

About International Business Machines

International Business Machines Corporation (NYSE:IBM), commonly known as IBM, is a global technology and consulting company that helps organizations modernize their information technology and business operations. Its offerings include hybrid cloud solutions, artificial intelligence software and services, enterprise software, IT infrastructure, cybersecurity, data analytics, and technology consulting.

IBM provides products and services to businesses, governments, and other institutions across industries and regions worldwide.