Private Trust Co. NA Sells 2,108 Shares of International Business Machines Corporation $IBM

Private Trust Co. NA lowered its position in International Business Machines Corporation (NYSE:IBM) by 12.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,029 shares of the technology company’s stock after selling 2,108 shares during the quarter. Private Trust Co. NA’s holdings in International Business Machines were worth $4,241,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of IBM. Vanguard Group Inc. boosted its position in shares of International Business Machines by 2.1% in the second quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock valued at $28,019,274,000 after acquiring an additional 1,913,708 shares during the period. State Street Corp increased its holdings in International Business Machines by 0.3% during the 2nd quarter. State Street Corp now owns 54,536,963 shares of the technology company’s stock worth $16,076,406,000 after acquiring an additional 147,721 shares during the period. Geode Capital Management LLC lifted its stake in International Business Machines by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 21,936,235 shares of the technology company’s stock worth $6,444,527,000 after purchasing an additional 400,131 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in International Business Machines by 6.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company’s stock valued at $2,147,608,000 after purchasing an additional 524,633 shares during the period. Finally, Legal & General Group Plc grew its position in shares of International Business Machines by 3.4% during the 2nd quarter. Legal & General Group Plc now owns 7,126,503 shares of the technology company’s stock valued at $2,100,751,000 after purchasing an additional 234,318 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 0.2%

Shares of IBM opened at $304.40 on Thursday. International Business Machines Corporation has a 1 year low of $214.50 and a 1 year high of $324.90. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89. The stock has a 50 day simple moving average of $302.57 and a two-hundred day simple moving average of $280.43. The firm has a market cap of $284.53 billion, a P/E ratio of 36.41, a P/E/G ratio of 3.03 and a beta of 0.69.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.20. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The firm had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.10 billion. During the same period in the previous year, the business posted $2.30 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.2%. The ex-dividend date was Monday, November 10th. International Business Machines’s dividend payout ratio is presently 80.38%.

Analysts Set New Price Targets

IBM has been the subject of several research analyst reports. BMO Capital Markets lifted their price objective on International Business Machines from $300.00 to $305.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. Stifel Nicolaus raised their price target on International Business Machines from $295.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Oppenheimer started coverage on International Business Machines in a report on Friday, November 21st. They set an “outperform” rating and a $360.00 price objective for the company. Weiss Ratings upgraded shares of International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research report on Saturday, October 25th. Finally, Royal Bank Of Canada dropped their target price on shares of International Business Machines from $315.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $293.38.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.