Dakota Wealth Management Lowers Stock Position in International Business Machines Co. (NYSE:IBM)

Dakota Wealth Management lessened its stake in International Business Machines Co. (NYSE:IBM) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,007 shares of the technology company’s stock after selling 1,921 shares during the period. Dakota Wealth Management’s holdings in International Business Machines were worth $15,477,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in IBM. Brookstone Capital Management boosted its stake in International Business Machines by 1.6% in the first quarter. Brookstone Capital Management now owns 18,187 shares of the technology company’s stock worth $3,473,000 after buying an additional 289 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in shares of International Business Machines by 127.6% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,891 shares of the technology company’s stock valued at $552,000 after purchasing an additional 1,621 shares in the last quarter. New England Research & Management Inc. grew its holdings in shares of International Business Machines by 28.6% during the 1st quarter. New England Research & Management Inc. now owns 10,440 shares of the technology company’s stock valued at $1,994,000 after purchasing an additional 2,321 shares during the last quarter. S.E.E.D. Planning Group LLC lifted its stake in International Business Machines by 113.6% in the first quarter. S.E.E.D. Planning Group LLC now owns 11,520 shares of the technology company’s stock worth $2,200,000 after purchasing an additional 6,127 shares during the last quarter. Finally, OneAscent Financial Services LLC boosted its position in International Business Machines by 5.3% during the first quarter. OneAscent Financial Services LLC now owns 3,955 shares of the technology company’s stock valued at $755,000 after buying an additional 199 shares during the period. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on IBM. Bank of America lifted their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Jefferies Financial Group lifted their price target on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. Evercore ISI raised their target price on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Finally, Morgan Stanley lowered their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a report on Thursday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines Stock Down 6.2 %

IBM stock opened at $218.28 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The business has a 50 day moving average of $214.67 and a 200 day moving average of $190.05. International Business Machines Co. has a twelve month low of $136.33 and a twelve month high of $237.37. The firm has a market cap of $200.51 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.05. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the previous year, the firm earned $2.20 EPS. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, research analysts forecast that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Friday, August 9th. International Business Machines’s payout ratio is 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.