Legacy Financial Advisors Inc. Cuts Stake in International Business Machines Corporation $IBM

Legacy Financial Advisors Inc. cut its stake in International Business Machines Corporation (NYSE:IBM) by 34.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,333 shares of the technology company’s stock after selling 2,787 shares during the period. Legacy Financial Advisors Inc.’s holdings in International Business Machines were worth $1,505,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. CFS Investment Advisory Services LLC grew its stake in shares of International Business Machines by 0.4% during the 3rd quarter. CFS Investment Advisory Services LLC now owns 9,359 shares of the technology company’s stock valued at $2,878,000 after buying an additional 34 shares during the period. KPP Advisory Services LLC boosted its holdings in International Business Machines by 1.7% in the third quarter. KPP Advisory Services LLC now owns 2,069 shares of the technology company’s stock valued at $584,000 after acquiring an additional 34 shares during the last quarter. Marco Investment Management LLC boosted its holdings in International Business Machines by 0.3% in the third quarter. Marco Investment Management LLC now owns 10,774 shares of the technology company’s stock valued at $3,040,000 after acquiring an additional 34 shares during the last quarter. MA Private Wealth grew its position in International Business Machines by 1.5% during the third quarter. MA Private Wealth now owns 2,242 shares of the technology company’s stock valued at $633,000 after acquiring an additional 34 shares during the period. Finally, Ignite Planners LLC increased its stake in International Business Machines by 0.9% during the third quarter. Ignite Planners LLC now owns 4,000 shares of the technology company’s stock worth $1,129,000 after acquiring an additional 36 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM opened at $257.20 on Monday. International Business Machines Corporation has a twelve month low of $214.50 and a twelve month high of $324.90. The firm has a market cap of $240.41 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 2.58 and a beta of 0.69. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 1.67. The company has a fifty day simple moving average of $294.08 and a 200 day simple moving average of $284.45.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 28th. The technology company reported $4.52 earnings per share for the quarter, beating analysts’ consensus estimates of $4.33 by $0.19. The company had revenue of $19.69 billion during the quarter, compared to analysts’ expectations of $19.23 billion. International Business Machines had a net margin of 15.69% and a return on equity of 38.15%. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.92 EPS. Equities research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 10th will be paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Tuesday, February 10th. International Business Machines’s dividend payout ratio (DPR) is 60.27%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IBM shares. Jefferies Financial Group lifted their price objective on International Business Machines from $360.00 to $370.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Evercore boosted their price objective on shares of International Business Machines from $330.00 to $345.00 and gave the stock an “outperform” rating in a research note on Thursday, January 29th. DZ Bank raised shares of International Business Machines to a “hold” rating in a research report on Wednesday, February 11th. JPMorgan Chase & Co. lifted their target price on shares of International Business Machines from $312.00 to $317.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Finally, Stifel Nicolaus raised their price objective on International Business Machines from $325.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $330.07.

Insider Transactions at International Business Machines

In other International Business Machines news, Director David N. Farr acquired 1,000 shares of the company’s stock in a transaction on Friday, January 30th. The shares were bought at an average cost of $304.00 per share, for a total transaction of $304,000.00. Following the acquisition, the director directly owned 9,258 shares of the company’s stock, valued at $2,814,432. This trade represents a 12.11% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by corporate insiders.

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.