Washington Trust Bank Has $271,000 Stake in International Business Machines Co. (NYSE:IBM)

Washington Trust Bank cut its position in International Business Machines Co. (NYSE:IBM) by 38.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,224 shares of the technology company’s stock after selling 774 shares during the quarter. Washington Trust Bank’s holdings in International Business Machines were worth $271,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in IBM. Principal Financial Group Inc. lifted its stake in International Business Machines by 4.5% during the third quarter. Principal Financial Group Inc. now owns 1,094,106 shares of the technology company’s stock worth $241,885,000 after purchasing an additional 46,951 shares during the last quarter. Montecito Bank & Trust lifted its position in shares of International Business Machines by 2.6% during the 3rd quarter. Montecito Bank & Trust now owns 8,814 shares of the technology company’s stock worth $1,949,000 after buying an additional 227 shares during the last quarter. US Financial Advisors LLC acquired a new stake in International Business Machines in the third quarter valued at about $205,000. Baugh & Associates LLC grew its position in International Business Machines by 25.3% in the third quarter. Baugh & Associates LLC now owns 1,527 shares of the technology company’s stock valued at $338,000 after acquiring an additional 308 shares during the last quarter. Finally, Advisors Management Group Inc. ADV raised its stake in International Business Machines by 0.9% during the third quarter. Advisors Management Group Inc. ADV now owns 40,695 shares of the technology company’s stock worth $8,997,000 after acquiring an additional 348 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of research analyst reports. Stifel Nicolaus raised their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Jefferies Financial Group boosted their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Finally, Bernstein Bank upped their target price on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines Trading Up 0.2 %

Shares of IBM traded up $0.47 during trading hours on Thursday, hitting $214.07. 156,006 shares of the stock were exchanged, compared to its average volume of 4,233,460. The firm has a market capitalization of $197.94 billion, a P/E ratio of 31.09, a price-to-earnings-growth ratio of 4.64 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. International Business Machines Co. has a fifty-two week low of $145.28 and a fifty-two week high of $237.37. The business has a 50-day moving average of $217.49 and a 200-day moving average of $191.86.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same period last year, the company posted $2.20 EPS. The business’s quarterly revenue was up 1.5% on a year-over-year basis. On average, research analysts expect that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

International Business Machines Company 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.