Ledyard National Bank Buys 1,405 Shares of International Business Machines Co. (NYSE:IBM)

Ledyard National Bank boosted its stake in shares of International Business Machines Co. (NYSE:IBM) by 10.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,308 shares of the technology company’s stock after acquiring an additional 1,405 shares during the period. Ledyard National Bank’s holdings in International Business Machines were worth $3,163,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of IBM. Vanguard Group Inc. raised its stake in International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after acquiring an additional 5,546,855 shares in the last quarter. Legal & General Group Plc increased its position in International Business Machines by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after purchasing an additional 330,694 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after purchasing an additional 444,698 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of International Business Machines by 6.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock valued at $829,431,000 after purchasing an additional 304,390 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after buying an additional 2,118,165 shares during the period. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IBM. BMO Capital Markets lifted their target price on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Morgan Stanley increased their price objective on International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Jefferies Financial Group raised their target price on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday. Bernstein Bank increased their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Finally, Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Three investment 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $205.71.

International Business Machines Price Performance

IBM opened at $231.83 on Tuesday. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $237.37. The company has a market capitalization of $212.96 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 5.21 and a beta of 0.70. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The firm has a 50-day moving average price of $213.04 and a 200-day moving average price of $189.45.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results 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. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the business posted $2.18 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. Equities analysts expect that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed 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 of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.88%. International Business Machines’s dividend payout ratio (DPR) is presently 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.