International Business Machines Co. (NYSE:IBM) Shares Sold by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC reduced its position in International Business Machines Co. (NYSE:IBM) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,445 shares of the technology company’s stock after selling 102 shares during the period. Eagle Bay Advisors LLC’s holdings in International Business Machines were worth $762,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of IBM. Ellenbecker Investment Group increased its holdings in shares of International Business Machines by 2.3% in the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after acquiring an additional 46 shares during the last quarter. Castleview Partners LLC increased its holdings in shares of International Business Machines by 3.7% in the 3rd quarter. Castleview Partners LLC now owns 1,522 shares of the technology company’s stock valued at $336,000 after acquiring an additional 55 shares during the last quarter. Armbruster Capital Management Inc. increased its holdings in shares of International Business Machines by 2.3% in the 2nd quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock valued at $432,000 after acquiring an additional 56 shares during the last quarter. Aspect Partners LLC increased its holdings in shares of International Business Machines by 11.2% in the 3rd quarter. Aspect Partners LLC now owns 554 shares of the technology company’s stock valued at $122,000 after acquiring an additional 56 shares during the last quarter. Finally, Plimoth Trust Co. LLC increased its holdings in shares of International Business Machines by 0.3% in the 3rd quarter. Plimoth Trust Co. LLC now owns 16,782 shares of the technology company’s stock valued at $3,710,000 after acquiring an additional 56 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IBM has been the subject of a number of research analyst reports. DZ Bank downgraded 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, October 2nd. The Goldman Sachs Group boosted their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Jefferies Financial Group boosted their price objective on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Finally, BMO Capital Markets boosted their price objective on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $205.71.

International Business Machines Price Performance

Shares of International Business Machines stock traded down $0.38 during trading on Wednesday, hitting $231.87. The stock had a trading volume of 1,238,286 shares, compared to its average volume of 4,169,158. 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 firm has a market cap of $213.00 billion, a P/E ratio of 26.36, a PEG ratio of 5.21 and a beta of 0.70. The business has a fifty day moving average of $213.86 and a two-hundred day moving average of $189.75. International Business Machines Co. has a fifty-two week low of $136.05 and a fifty-two week high of $237.37.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.27. The business had revenue of $15.77 billion during 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 revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.18 earnings per share. On average, sell-side 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 2.88%. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

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.