International Business Machines Co. (NYSE:IBM) Shares Sold by Farmers Trust Co.

Farmers Trust Co. lessened its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 47,970 shares of the technology company’s stock after selling 663 shares during the quarter. International Business Machines makes up approximately 2.0% of Farmers Trust Co.’s portfolio, making the stock its 7th largest holding. Farmers Trust Co.’s holdings in International Business Machines were worth $10,605,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new position in shares of International Business Machines in the second quarter valued at approximately $7,160,000. Mosley Wealth Management bought a new position in International Business Machines in the 4th quarter worth $312,000. Hodges Capital Management Inc. raised its holdings in International Business Machines by 60.8% in the 1st quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock worth $3,921,000 after acquiring an additional 7,768 shares during the period. Burns J W & Co. Inc. NY lifted its position in International Business Machines by 10.8% during the 1st quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock worth $491,000 after acquiring an additional 250 shares during the last quarter. Finally, 1832 Asset Management L.P. acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $3,017,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on IBM shares. BMO Capital Markets increased their target price on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Bernstein Bank raised their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday. Royal Bank of Canada boosted 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 report on Thursday, July 25th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a report on Wednesday. Finally, UBS Group boosted their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $194.35.

International Business Machines Stock Performance

International Business Machines stock opened at $222.70 on Friday. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $224.15. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The stock has a fifty day moving average price of $202.93 and a two-hundred day moving average price of $186.04. The firm has a market capitalization of $204.57 billion, a P/E ratio of 25.22, a P/E/G ratio of 4.90 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The firm had revenue of $15.77 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.18 earnings per share. As a group, analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

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

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.