Benjamin Edwards Inc. Decreases Stake in International Business Machines Co. (NYSE:IBM)

Benjamin Edwards Inc. lessened its holdings in International Business Machines Co. (NYSE:IBM) by 26.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 3,141 shares of the technology company’s stock after selling 1,130 shares during the quarter. Benjamin Edwards Inc.’s holdings in International Business Machines were worth $543,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Arden Trust Co grew its stake in International Business Machines by 2.8% in the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after purchasing an additional 54 shares during the period. Armbruster Capital Management Inc. grew its position in International Business Machines by 2.3% during the second quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock valued at $432,000 after buying an additional 56 shares during the period. CVA Family Office LLC increased its holdings in International Business Machines by 3.3% during the second quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock worth $311,000 after buying an additional 57 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in International Business Machines by 0.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after acquiring an additional 58 shares during the period. Finally, Peddock Capital Advisors LLC boosted its stake in International Business Machines by 0.6% in the second quarter. Peddock Capital Advisors LLC now owns 10,040 shares of the technology company’s stock valued at $1,736,000 after acquiring an additional 58 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Up 1.7 %

IBM opened at $217.63 on Friday. The firm has a market capitalization of $199.92 billion, a P/E ratio of 24.65, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70. International Business Machines Co. has a one year low of $135.87 and a one year high of $218.84. The company has a fifty day moving average price of $196.52 and a 200-day moving average price of $184.38. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.18 EPS. Equities research analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 3.07%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Analyst Ratings Changes

IBM has been the subject of several research analyst reports. Jefferies Financial Group raised their price target on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. UBS Group boosted their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Stifel Nicolaus increased their price target on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. The Goldman Sachs Group began coverage on International Business Machines in a research note on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective on the stock. Finally, Royal Bank of Canada lifted their target price on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus target price of $188.60.

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.