Marble Harbor Investment Counsel LLC Sells 175 Shares of International Business Machines Co. (NYSE:IBM)

Marble Harbor Investment Counsel LLC lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 6.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,443 shares of the technology company’s stock after selling 175 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in International Business Machines were worth $423,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in IBM. Brown Brothers Harriman & Co. raised its stake in shares of International Business Machines by 12.2% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 43,394 shares of the technology company’s stock valued at $7,505,000 after purchasing an additional 4,705 shares during the period. Tennessee Valley Asset Management Partners grew its holdings in International Business Machines by 5.4% during the second quarter. Tennessee Valley Asset Management Partners now owns 3,484 shares of the technology company’s stock worth $603,000 after purchasing an additional 177 shares during the period. Stevard LLC increased its position in International Business Machines by 11.7% during the second quarter. Stevard LLC now owns 1,903 shares of the technology company’s stock worth $329,000 after buying an additional 200 shares during the last quarter. Retirement Planning Co of New England Inc. raised its stake in International Business Machines by 4.2% in the second quarter. Retirement Planning Co of New England Inc. now owns 3,744 shares of the technology company’s stock valued at $647,000 after buying an additional 150 shares during the period. Finally, Mystic Asset Management Inc. lifted its position in shares of International Business Machines by 1.0% in the second quarter. Mystic Asset Management Inc. now owns 7,500 shares of the technology company’s stock valued at $1,297,000 after buying an additional 75 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Evercore ISI increased their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Stifel Nicolaus increased their price objective on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised 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 note on Thursday, July 25th. UBS Group upped their price target on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Finally, Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $188.60.

International Business Machines Trading Up 1.5 %

Shares of NYSE IBM opened at $214.79 on Monday. The firm has a 50 day moving average price of $192.83 and a two-hundred day moving average price of $183.37. The stock has a market cap of $197.85 billion, a P/E ratio of 24.33, a price-to-earnings-growth ratio of 4.67 and a beta of 0.70. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $216.09. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping 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 business had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same period last year, the company earned $2.18 EPS. International Business Machines’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities analysts forecast that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.11%. International Business Machines’s dividend payout ratio (DPR) is currently 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.