Columbia Asset Management Sells 100 Shares of International Business Machines Co. (NYSE:IBM)

Columbia Asset Management cut its stake in International Business Machines Co. (NYSE:IBM) by 0.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 42,983 shares of the technology company’s stock after selling 100 shares during the period. International Business Machines accounts for 1.4% of Columbia Asset Management’s portfolio, making the stock its 16th biggest position. Columbia Asset Management’s holdings in International Business Machines were worth $7,434,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IBM. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines in the 1st quarter worth about $26,000. ESL Trust Services LLC acquired a new stake in International Business Machines during the first quarter worth approximately $28,000. Creekmur Asset Management LLC bought a new stake in International Business Machines in the fourth quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in International Business Machines in the fourth quarter valued at approximately $31,000. Finally, Financial Synergies Wealth Advisors Inc. boosted its holdings in shares of International Business Machines by 164.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after buying an additional 123 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Down 0.7 %

NYSE:IBM opened at $202.59 on Friday. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The firm has a market cap of $186.10 billion, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 4.50 and a beta of 0.71. The firm has a 50-day moving average price of $188.97 and a two-hundred day moving average price of $182.42. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $205.95.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The firm had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.18 EPS. On average, equities analysts expect that International Business Machines Co. will post 10.09 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, September 10th. Shareholders of record on Friday, August 9th will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

Wall Street Analyst Weigh In

IBM has been the subject of several research analyst reports. Jefferies Financial Group lifted their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. BMO Capital Markets lifted their price target on shares of 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. UBS Group increased their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday. Stifel Nicolaus boosted their target price on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group assumed coverage on International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $185.93.

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.