International Business Machines Corporation $IBM Stock Position Reduced by Lineweaver Wealth Advisors LLC

Lineweaver Wealth Advisors LLC lowered its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 30.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,363 shares of the technology company’s stock after selling 3,200 shares during the period. Lineweaver Wealth Advisors LLC’s holdings in International Business Machines were worth $1,619,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of International Business Machines during the second quarter valued at $21,586,659,000. State Street Corp raised its stake in shares of International Business Machines by 2.7% during the second quarter. State Street Corp now owns 56,045,055 shares of the technology company’s stock valued at $15,760,430,000 after purchasing an additional 1,450,562 shares in the last quarter. Bank of America Corp DE acquired a new stake in International Business Machines in the second quarter worth about $4,214,868,000. Bank of New York Mellon Corp acquired a new stake in International Business Machines in the second quarter worth about $2,606,782,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in International Business Machines by 0.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,621,512 shares of the technology company’s stock valued at $2,143,245,000 after buying an additional 53,388 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM stock traded up $3.74 during trading hours on Tuesday, hitting $230.76. 5,118,995 shares of the stock traded hands, compared to its average volume of 7,501,942. The stock has a 50-day simple moving average of $232.22 and a 200 day simple moving average of $243.77. International Business Machines Corporation has a one year low of $199.19 and a one year high of $332.46. The company has a market cap of $217.41 billion, a P/E ratio of 20.48, a P/E/G ratio of 2.16 and a beta of 0.73. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.93. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%. The firm had revenue of $17.16 billion for the quarter, compared to analyst estimates of $17.46 billion. During the same period in the previous year, the company earned $2.80 earnings per share. International Business Machines’s revenue was up 1.1% compared to the same quarter last year. Equities analysts forecast that International Business Machines Corporation will post 12.33 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 10th were given a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, August 10th. International Business Machines’s dividend payout ratio is 59.98%.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the completion of the sale, the senior vice president directly owned 47,800 shares of the company’s stock, valued at $11,009,296. This trade represents a 34.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

IBM has been the topic of several research analyst reports. Citigroup lowered their target price on shares of International Business Machines from $255.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, July 24th. Argus reduced their price target on shares of International Business Machines from $360.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Jefferies Financial Group decreased their price objective on shares of International Business Machines from $320.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Piper Sandler upgraded shares of International Business Machines to an “overweight” rating in a research note on Tuesday, June 23rd. Finally, KeyCorp lowered shares of International Business Machines to a “sector weight” rating in a research note on Tuesday, June 23rd. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average price target of $252.96.

Key International Business Machines News

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: RBC reaffirmed its “outperform” rating on IBM and set a $270 price target, providing favorable analyst validation. Benzinga analyst rating report
• Positive Sentiment: IBM’s advancement to Stage C of DARPA’s quantum initiative highlights progress in a potentially significant long-term growth area. IBM is among the companies continuing to invest aggressively in quantum computing. DARPA quantum-computing stock report
• Positive Sentiment: IBM’s diversified revenue base and roughly 2.98% dividend yield may appeal to income-focused and retirement investors, particularly as some investors view the shares as overlooked relative to other technology stocks. Cisco versus IBM retirement-investing comparison

International Business Machines Company Profile

International Business Machines Corporation (NYSE:IBM), commonly known as IBM, is a global technology company that provides hybrid cloud, artificial intelligence, software, consulting and infrastructure solutions. Its offerings help businesses and government organizations manage data, modernize applications, automate processes and improve cybersecurity.

IBM’s portfolio includes the Red Hat hybrid cloud platform, the watsonx suite of artificial intelligence and data tools, consulting services, and enterprise software for areas such as automation, application management, security and asset management.