Capital City Trust Co. FL Raises Holdings in International Business Machines Co. (NYSE:IBM)

Capital City Trust Co. FL boosted its stake in International Business Machines Co. (NYSE:IBM) by 1.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 7,902 shares of the technology company’s stock after acquiring an additional 104 shares during the period. Capital City Trust Co. FL’s holdings in International Business Machines were worth $1,747,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IBM. Hazlett Burt & Watson Inc. boosted its stake in shares of International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares during the last quarter. Hara Capital LLC purchased a new stake in International Business Machines in the 3rd quarter worth approximately $29,000. Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines in the 2nd quarter valued at $36,000. Wolff Wiese Magana LLC lifted its stake in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of International Business Machines during the third quarter worth $43,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

IBM has been the subject of several analyst reports. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. Stifel Nicolaus increased their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Morgan Stanley lowered their target price on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. BMO Capital Markets increased their price target on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Stock Down 1.9 %

IBM stock opened at $204.99 on Monday. The firm’s 50-day moving average is $218.79 and its two-hundred day moving average is $193.88. The company has a market capitalization of $189.54 billion, a price-to-earnings ratio of 29.84, a price-to-earnings-growth ratio of 4.60 and a beta of 0.71. International Business Machines Co. has a 52 week low of $152.13 and a 52 week high of $237.37. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating 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 business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter last year, the business posted $2.20 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is currently owned by company insiders.

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.