Tranquility Partners LLC Has $388,000 Holdings in International Business Machines Co. (NYSE:IBM)

Tranquility Partners LLC trimmed its stake in International Business Machines Co. (NYSE:IBM) by 71.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,755 shares of the technology company’s stock after selling 4,320 shares during the quarter. Tranquility Partners LLC’s holdings in International Business Machines were worth $388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IBM. Edgestream Partners L.P. boosted its position in International Business Machines by 119.6% during the first quarter. Edgestream Partners L.P. now owns 9,127 shares of the technology company’s stock valued at $1,743,000 after purchasing an additional 4,971 shares during the last quarter. Bahl & Gaynor Inc. increased its holdings in International Business Machines by 1.4% in the first quarter. Bahl & Gaynor Inc. now owns 8,400 shares of the technology company’s stock worth $1,604,000 after buying an additional 116 shares during the last quarter. Bessemer Group Inc. raised its position in International Business Machines by 31.8% during the first quarter. Bessemer Group Inc. now owns 71,057 shares of the technology company’s stock valued at $13,569,000 after acquiring an additional 17,144 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in International Business Machines by 25.8% in the first quarter. Lake Street Advisors Group LLC now owns 4,455 shares of the technology company’s stock valued at $851,000 after acquiring an additional 915 shares during the last quarter. Finally, Pitcairn Co. grew its position in International Business Machines by 9.4% in the first quarter. Pitcairn Co. now owns 5,180 shares of the technology company’s stock worth $989,000 after acquiring an additional 444 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

International Business Machines stock opened at $208.09 on Tuesday. International Business Machines Co. has a 52-week low of $152.35 and a 52-week high of $237.37. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The stock has a fifty day moving average price of $218.88 and a two-hundred day moving average price of $194.18. The firm has a market capitalization of $192.41 billion, a P/E ratio of 30.29, a P/E/G ratio of 4.60 and a beta of 0.71.

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

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued 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 yield of 3.21%. International Business Machines’s dividend payout ratio is 97.23%.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IBM. Jefferies Financial Group upped their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Evercore ISI boosted their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Morgan Stanley dropped their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Finally, UBS Group lifted their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $208.12.

International Business Machines Company Profile

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.