Hantz Financial Services Inc. Sells 542 Shares of International Business Machines Co. (NYSE:IBM)

Hantz Financial Services Inc. cut its stake in International Business Machines Co. (NYSE:IBM) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,622 shares of the technology company’s stock after selling 542 shares during the period. Hantz Financial Services Inc.’s holdings in International Business Machines were worth $5,665,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of IBM. Meeder Asset Management Inc. grew its position in International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after buying an additional 166 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of International Business Machines in the 2nd quarter worth approximately $7,160,000. Philip James Wealth Mangement LLC acquired a new stake in shares of International Business Machines during the 3rd quarter worth approximately $5,117,000. Aljian Capital Management LLC bought a new stake in shares of International Business Machines during the third quarter valued at approximately $611,000. Finally, Focused Wealth Management Inc raised its stake in shares of International Business Machines by 52.2% in the third quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock valued at $2,504,000 after purchasing an additional 3,887 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.07% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on IBM shares. Stifel Nicolaus lifted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. UBS Group lifted their target price on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Bank of America upped their target price on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets upped their target price on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Price Performance

NYSE:IBM opened at $227.41 on Friday. The firm has a market cap of $210.27 billion, a PE ratio of 33.10, a price-to-earnings-growth ratio of 5.09 and a beta of 0.71. International Business Machines Co. has a 12 month low of $156.89 and a 12 month high of $237.37. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The company’s 50-day moving average price is $220.63 and its two-hundred day moving average price is $197.27.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same period in the prior year, the business earned $2.20 earnings per share. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. On average, equities analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.94%. International Business Machines’s payout ratio is 97.23%.

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.