Smithfield Trust Co Trims Stock Position in International Business Machines Co. (NYSE:IBM)

Smithfield Trust Co cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,929 shares of the technology company’s stock after selling 135 shares during the quarter. Smithfield Trust Co’s holdings in International Business Machines were worth $4,182,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Hazlett Burt & Watson Inc. increased its position 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 worth $29,000 after acquiring an additional 116 shares during the period. Hara Capital LLC purchased a new position in shares of International Business Machines during the third quarter worth approximately $29,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Business Machines during the second quarter worth approximately $36,000. Wolff Wiese Magana LLC increased its position in shares of International Business Machines by 37.0% during the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after acquiring an additional 60 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in shares of International Business Machines during the third quarter worth approximately $43,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.07% of the stock is currently owned by corporate insiders.

International Business Machines Trading Up 2.1 %

NYSE:IBM opened at $214.61 on Thursday. International Business Machines Co. has a 12 month low of $153.51 and a 12 month high of $237.37. The firm has a fifty day simple moving average of $219.07 and a 200-day simple moving average of $194.64. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The company has a market capitalization of $198.44 billion, a P/E ratio of 31.24, a PEG ratio of 4.72 and a beta of 0.71.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the previous year, the firm posted $2.20 earnings per share. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, equities research analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The firm 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 dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.11%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Analysts Set New Price Targets

IBM has been the topic of several research reports. Bernstein Bank lifted their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Jefferies Financial Group lifted their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Morgan Stanley cut their price objective on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus lifted their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $208.12.

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.