International Business Machines Corporation $IBM Shares Sold by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC cut its stake in shares of International Business Machines Corporation (NYSE:IBM) by 30.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,937 shares of the technology company’s stock after selling 1,689 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in International Business Machines were worth $1,111,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank purchased a new position in International Business Machines in the 2nd quarter worth about $2,011,122,000. Vanguard Group Inc. boosted its holdings in shares of International Business Machines by 2.1% in the second quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock worth $28,019,274,000 after buying an additional 1,913,708 shares during the period. Laurel Wealth Advisors LLC increased its position in shares of International Business Machines by 27,928.2% in the second quarter. Laurel Wealth Advisors LLC now owns 1,903,116 shares of the technology company’s stock worth $561,001,000 after acquiring an additional 1,896,326 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of International Business Machines by 6.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company’s stock valued at $2,147,608,000 after acquiring an additional 524,633 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of International Business Machines in the 2nd quarter valued at approximately $133,771,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

IBM stock opened at $300.94 on Monday. The firm has a 50 day moving average of $301.03 and a two-hundred day moving average of $279.76. International Business Machines Corporation has a 12 month low of $214.50 and a 12 month high of $324.90. The company has a market capitalization of $281.30 billion, a price-to-earnings ratio of 36.00, a P/E/G ratio of 3.00 and a beta of 0.69. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 1.97.

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

International Business Machines Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on IBM shares. Sanford C. Bernstein reiterated a “market perform” rating on shares of International Business Machines in a research report on Wednesday, December 10th. Oppenheimer assumed coverage on International Business Machines in a report on Friday, November 21st. They set an “outperform” rating and a $360.00 price target on the stock. Jefferies Financial Group upped their price target on International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a research report on Tuesday, October 21st. UBS Group restated a “sell” rating on shares of International Business Machines in a research report on Tuesday, December 9th. Finally, Bank of America upped their target price on International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $293.38.

International Business Machines 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.