International Business Machines Corporation $IBM Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lessened its position in International Business Machines Corporation (NYSE:IBM) by 52.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,646 shares of the technology company’s stock after selling 37,796 shares during the period. Exchange Traded Concepts LLC’s holdings in International Business Machines were worth $9,494,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AA Financial Advisors LLC grew its position in shares of International Business Machines by 16.6% in the third quarter. AA Financial Advisors LLC now owns 813 shares of the technology company’s stock valued at $229,000 after purchasing an additional 116 shares during the period. Somerset Trust Co lifted its position in International Business Machines by 12.0% during the third quarter. Somerset Trust Co now owns 935 shares of the technology company’s stock worth $264,000 after buying an additional 100 shares during the period. Perennial Advisors LLC acquired a new stake in International Business Machines in the 3rd quarter worth about $411,000. Westmount Partners LLC boosted its stake in International Business Machines by 0.3% in the 3rd quarter. Westmount Partners LLC now owns 19,256 shares of the technology company’s stock worth $5,517,000 after buying an additional 66 shares during the last quarter. Finally, PFW Advisors LLC grew its holdings in International Business Machines by 16.0% in the 3rd quarter. PFW Advisors LLC now owns 875 shares of the technology company’s stock valued at $247,000 after buying an additional 121 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

Shares of IBM stock opened at $303.93 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 1.97. The company has a market cap of $284.09 billion, a PE ratio of 36.35, a P/E/G ratio of 3.02 and a beta of 0.69. The company’s fifty day simple moving average is $302.10 and its 200-day simple moving average is $280.26. International Business Machines Corporation has a 52 week low of $214.50 and a 52 week high of $324.90.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results 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. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The firm had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.10 billion. During the same period in the prior year, the firm earned $2.30 EPS. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, equities research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current 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 dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Monday, November 10th. International Business Machines’s dividend payout ratio (DPR) is presently 80.38%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on IBM shares. Wall Street Zen lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Saturday. Royal Bank Of Canada dropped their price target on shares of International Business Machines from $315.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. Morgan Stanley cut their price target on shares of International Business Machines from $256.00 to $252.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 23rd. Bank of America boosted their price objective on shares of International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Finally, Weiss Ratings raised International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research report on Saturday, October 25th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $293.38.

About International Business Machines

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.