Frisch Financial Group Inc. Sells 4,303 Shares of International Business Machines Corporation $IBM

Frisch Financial Group Inc. lowered its position in shares of International Business Machines Corporation (NYSE:IBM) by 51.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,033 shares of the technology company’s stock after selling 4,303 shares during the quarter. Frisch Financial Group Inc.’s holdings in International Business Machines were worth $1,138,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Mattson Financial Services LLC acquired a new stake in International Business Machines during the 3rd quarter worth approximately $852,000. Vise Technologies Inc. bought a new position in International Business Machines during the 2nd quarter worth $16,565,000. Vanguard Group Inc. lifted its holdings in shares of International Business Machines by 2.1% during the second quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock worth $28,019,274,000 after buying an additional 1,913,708 shares in the last quarter. Thames Capital Management LLC bought a new stake in shares of International Business Machines in the second quarter valued at about $2,710,000. Finally, Twin Capital Management Inc. grew its stake in shares of International Business Machines by 147.6% in the second quarter. Twin Capital Management Inc. now owns 19,932 shares of the technology company’s stock valued at $5,876,000 after acquiring an additional 11,882 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of International Business Machines from $360.00 to $370.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of International Business Machines in a report on Wednesday, December 10th. Wedbush boosted their price target on International Business Machines from $325.00 to $340.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. raised their price objective on International Business Machines from $312.00 to $317.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Finally, Royal Bank Of Canada set a $361.00 target price on International Business Machines in a research report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $330.07.

Insider Buying and Selling

In related news, Director David N. Farr bought 1,000 shares of the business’s stock in a transaction on Friday, January 30th. The shares were purchased at an average price of $304.00 per share, for a total transaction of $304,000.00. Following the completion of the transaction, the director directly owned 9,258 shares of the company’s stock, valued at approximately $2,814,432. This represents a 12.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.18% of the stock is currently owned by insiders.

International Business Machines Trading Down 2.0%

Shares of IBM stock opened at $255.65 on Friday. International Business Machines Corporation has a fifty-two week low of $214.50 and a fifty-two week high of $324.90. The stock’s fifty day moving average price is $295.12 and its two-hundred day moving average price is $283.96. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.92 and a current ratio of 0.96. The company has a market cap of $238.97 billion, a PE ratio of 22.93, a P/E/G ratio of 2.61 and a beta of 0.69.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 28th. The technology company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $4.33 by $0.19. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.The business had revenue of $19.69 billion during the quarter, compared to the consensus estimate of $19.23 billion. During the same period in the prior year, the company earned $3.92 EPS. International Business Machines’s revenue for the quarter was up 12.2% on a year-over-year basis. Equities analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be issued a dividend of $1.68 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $6.72 annualized dividend and a dividend yield of 2.6%. International Business Machines’s payout ratio is 60.27%.

International Business Machines Company Profile

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.