3,200 International Business Machines Corporation $IBM Shares Sold by Lineweaver Wealth Advisors LLC

Lineweaver Wealth Advisors LLC lowered its holdings in International Business Machines Corporation (NYSE:IBM) by 30.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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.

Other large investors have also recently bought and sold shares of the company. Cornerstone Financial Management LLC acquired a new stake in International Business Machines during the 4th quarter worth about $28,000. Harborfront Financial Group LLC acquired a new position in shares of International Business Machines in the 2nd quarter valued at about $27,000. Hara Capital LLC acquired a new position in shares of International Business Machines in the 2nd quarter valued at about $28,000. Bare Financial Services Inc lifted its position in shares of International Business Machines by 114.6% in the second quarter. Bare Financial Services Inc now owns 103 shares of the technology company’s stock worth $29,000 after purchasing an additional 55 shares in the last quarter. Finally, Portus Wealth Advisors LLC purchased a new stake in shares of International Business Machines in the first quarter worth approximately $26,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Up 1.6%

International Business Machines stock traded up $3.74 during mid-day trading on Tuesday, hitting $230.76. 5,118,995 shares of the company’s stock were exchanged, compared to its average volume of 7,501,942. International Business Machines Corporation has a 1-year low of $199.19 and a 1-year high of $332.46. The stock has a 50 day moving average of $232.22 and a two-hundred day moving average of $243.77. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63. The stock 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.

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

International Business Machines Dividend Announcement

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

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

Analyst Ratings Changes

Several research firms have weighed in on IBM. Barclays dropped their price objective on shares of International Business Machines from $288.00 to $262.00 and set an “overweight” rating on the stock in a research note on Thursday, July 23rd. Evercore decreased their target price on shares of International Business Machines from $310.00 to $250.00 and set an “outperform” rating for the company in a research note on Thursday, July 16th. Piper Sandler upgraded shares of International Business Machines to an “overweight” rating in a report on Tuesday, June 23rd. Wall Street Zen downgraded shares of International Business Machines from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. Finally, Wolfe Research downgraded shares of International Business Machines to a “peer perform” rating in a research note on Tuesday, June 23rd. Eighteen research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $252.96.

Insiders Place Their Bets

In related news, SVP Robert Thomas sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total value of $5,758,000.00. Following the completion of the sale, the senior vice president directly owned 47,800 shares in the company, valued at approximately $11,009,296. The trade was a 34.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.27% of the company’s stock.

About International Business Machines

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.