Elevated Capital Advisors LLC Sells 469 Shares of International Business Machines Co. (NYSE:IBM)

Elevated Capital Advisors LLC decreased its position in International Business Machines Co. (NYSE:IBM) by 8.4% during the third quarter, HoldingsChannel.com reports. The fund owned 5,125 shares of the technology company’s stock after selling 469 shares during the quarter. Elevated Capital Advisors LLC’s holdings in International Business Machines were worth $1,133,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. FPC Investment Advisory Inc. purchased a new stake in International Business Machines during the first quarter valued at $26,000. ESL Trust Services LLC bought a new position in shares of International Business Machines in the 1st quarter valued at about $28,000. Oliver Lagore Vanvalin Investment Group purchased a new position in International Business Machines in the second quarter worth about $36,000. Wolff Wiese Magana LLC increased its stake in International Business Machines by 37.0% during the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after acquiring an additional 60 shares during the last quarter. Finally, Briaud Financial Planning Inc raised its position in International Business Machines by 54.3% during the second quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock valued at $49,000 after purchasing an additional 100 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on IBM. Bernstein Bank lifted their target price on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Royal Bank of Canada lifted their price objective on shares of International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Stifel Nicolaus increased their target price on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Bank of America lifted their price target 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. Finally, Evercore ISI increased their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $205.71.

International Business Machines Stock Performance

IBM stock opened at $232.25 on Wednesday. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $237.37. The business has a 50-day moving average price of $213.86 and a 200 day moving average price of $189.75. The company has a market capitalization of $213.35 billion, a P/E ratio of 26.30, a PEG ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating the consensus estimate of $2.16 by $0.27. The business had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.18 EPS. As a group, equities research analysts forecast that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 2.88%. International Business Machines’s dividend payout ratio is currently 75.65%.

About International Business Machines

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.