Essex Savings Bank Sells 71 Shares of International Business Machines Co. (NYSE:IBM)

Essex Savings Bank lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,960 shares of the technology company’s stock after selling 71 shares during the period. Essex Savings Bank’s holdings in International Business Machines were worth $1,750,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its position in shares of International Business Machines by 13.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 77,189 shares of the technology company’s stock worth $13,350,000 after purchasing an additional 9,155 shares in the last quarter. One Capital Management LLC lifted its position in shares of International Business Machines by 44.7% during the 2nd quarter. One Capital Management LLC now owns 2,905 shares of the technology company’s stock valued at $502,000 after acquiring an additional 898 shares during the period. Financial & Tax Architects LLC increased its position in shares of International Business Machines by 7.4% in the second quarter. Financial & Tax Architects LLC now owns 36,823 shares of the technology company’s stock worth $6,369,000 after purchasing an additional 2,522 shares during the period. Bradley Foster & Sargent Inc. CT raised its stake in International Business Machines by 3.2% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 88,495 shares of the technology company’s stock valued at $15,305,000 after purchasing an additional 2,715 shares in the last quarter. Finally, Wealth Alliance lifted its position in International Business Machines by 4.3% during the second quarter. Wealth Alliance now owns 5,945 shares of the technology company’s stock worth $1,028,000 after purchasing an additional 245 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $220.07 on Thursday. The stock has a market cap of $203.49 billion, a price-to-earnings ratio of 32.03, a P/E/G ratio of 4.71 and a beta of 0.74. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $239.35. The company’s fifty day moving average is $222.34 and its 200 day moving average is $210.16.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same period last year, the company earned $2.20 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. Sell-side analysts forecast that International Business Machines Co. will post 10.16 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.04%. International Business Machines’s payout ratio is 97.23%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on IBM shares. The Goldman Sachs Group boosted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Stifel Nicolaus upped their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Jefferies Financial Group lifted their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Bank of America boosted their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets lifted their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $215.81.

Insider Buying and Selling at International Business Machines

In other 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 sale, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.07% of the company’s stock.

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.