Marks Group Wealth Management Inc Sells 177 Shares of International Business Machines Co. (NYSE:IBM)

Marks Group Wealth Management Inc trimmed its stake in International Business Machines Co. (NYSE:IBM) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,380 shares of the technology company’s stock after selling 177 shares during the period. Marks Group Wealth Management Inc’s holdings in International Business Machines were worth $2,295,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Ellenbecker Investment Group raised its holdings in International Business Machines by 2.3% during the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after buying an additional 46 shares during the period. Goldstein Advisors LLC raised its stake in shares of International Business Machines by 4.0% in the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after acquiring an additional 47 shares during the period. Sollinda Capital Management LLC lifted its holdings in shares of International Business Machines by 3.7% in the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock worth $301,000 after acquiring an additional 49 shares during the last quarter. Lansing Street Advisors boosted its stake in shares of International Business Machines by 3.4% during the 3rd quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock worth $332,000 after purchasing an additional 49 shares during the period. Finally, Northern Financial Advisors Inc grew its holdings in International Business Machines by 0.6% during the 3rd quarter. Northern Financial Advisors Inc now owns 7,815 shares of the technology company’s stock valued at $1,728,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IBM. Jefferies Financial Group boosted their target price on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Bank of America lifted their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group upped their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Stifel Nicolaus lifted their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Trading Up 0.6 %

Shares of NYSE IBM opened at $207.57 on Wednesday. The business has a fifty day moving average price of $217.19 and a 200 day moving average price of $191.71. International Business Machines Co. has a 1-year low of $145.28 and a 1-year 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 market capitalization of $191.93 billion, a P/E ratio of 30.21, a price-to-earnings-growth ratio of 4.68 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating 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 business had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same period last year, the business earned $2.20 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. Equities research analysts expect that International Business Machines Co. will post 10.11 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a $1.67 dividend. 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 3.22%. International Business Machines’s payout ratio is 97.23%.

International Business Machines 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.