Appleton Partners Inc. MA Sells 452 Shares of International Business Machines Co. (NYSE:IBM)

Appleton Partners Inc. MA cut its stake in International Business Machines Co. (NYSE:IBM) by 10.3% in the third quarter, HoldingsChannel.com reports. The fund owned 3,917 shares of the technology company’s stock after selling 452 shares during the period. Appleton Partners Inc. MA’s holdings in International Business Machines were worth $866,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. 1832 Asset Management L.P. bought a new stake in International Business Machines in the 4th quarter valued at $3,017,000. Pinebridge Investments L.P. lifted its holdings in shares of International Business Machines by 78.9% in the fourth quarter. Pinebridge Investments L.P. now owns 59,937 shares of the technology company’s stock valued at $9,803,000 after purchasing an additional 26,434 shares in the last quarter. Stephens Inc. AR boosted its position in shares of International Business Machines by 19.1% during the fourth quarter. Stephens Inc. AR now owns 70,151 shares of the technology company’s stock worth $11,473,000 after buying an additional 11,258 shares during the period. Morningstar Investment Services LLC grew its holdings in shares of International Business Machines by 146.6% during the fourth quarter. Morningstar Investment Services LLC now owns 7,437 shares of the technology company’s stock worth $1,218,000 after buying an additional 4,421 shares in the last quarter. Finally, Angeles Wealth Management LLC raised its position in International Business Machines by 31.6% in the 4th quarter. Angeles Wealth Management LLC now owns 2,735 shares of the technology company’s stock valued at $447,000 after buying an additional 657 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

Shares of NYSE IBM opened at $222.70 on Friday. The firm has a market cap of $204.57 billion, a P/E ratio of 25.22, a price-to-earnings-growth ratio of 4.90 and a beta of 0.70. The business’s 50 day moving average is $202.93 and its 200-day moving average is $186.04. The company has a current ratio of 1.12, a quick ratio of 1.08 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 $224.15.

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 firm had revenue of $15.77 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the business earned $2.18 EPS. Equities research analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.00%. International Business Machines’s payout ratio is presently 75.65%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on IBM shares. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. BMO Capital Markets increased their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. UBS Group lifted their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Finally, Evercore ISI upped their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $194.35.

International Business Machines 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.