International Business Machines Co. (NYSE:IBM) Shares Sold by First Hawaiian Bank

First Hawaiian Bank lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,698 shares of the technology company’s stock after selling 278 shares during the quarter. First Hawaiian Bank’s holdings in International Business Machines were worth $2,542,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FPC Investment Advisory Inc. purchased a new position in shares of International Business Machines during the 1st quarter valued at approximately $26,000. Naples Money Management LLC purchased a new stake in shares of International Business Machines during the 4th quarter worth about $28,000. ESL Trust Services LLC bought a new position in shares of International Business Machines in the 1st quarter valued at approximately $28,000. Creekmur Asset Management LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth approximately $29,000. Finally, Ables Iannone Moore & Associates Inc. bought a new position in International Business Machines in the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IBM. Wedbush boosted their target price on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Morgan Stanley reduced their price target on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Stifel Nicolaus raised their target price on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, July 25th. BNP Paribas initiated coverage on International Business Machines in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price target for the company. Finally, StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $184.93.

International Business Machines Trading Down 3.1 %

Shares of IBM traded down $5.81 during mid-day trading on Monday, hitting $183.31. The company had a trading volume of 4,968,554 shares, compared to its average volume of 4,437,049. The stock has a market cap of $168.86 billion, a PE ratio of 20.72, a P/E/G ratio of 4.24 and a beta of 0.71. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $199.18. The business’s 50-day simple moving average is $176.64 and its 200-day simple moving average is $180.27.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.27. The business had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.18 earnings per share. Sell-side analysts forecast that International Business Machines Co. will post 10.06 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.64%. The ex-dividend date is Friday, August 9th. International Business Machines’s dividend 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.