International Business Machines Co. (NYSE:IBM) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 5.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,469 shares of the technology company’s stock after selling 3,122 shares during the period. First Citizens Bank & Trust Co.’s holdings in International Business Machines were worth $10,937,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of IBM. FPC Investment Advisory Inc. bought a new stake in International Business Machines in the 1st quarter valued at about $26,000. ESL Trust Services LLC acquired a new position in International Business Machines during the 1st quarter valued at about $28,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Business Machines in the 2nd quarter worth approximately $36,000. Financial Synergies Wealth Advisors Inc. increased its stake in shares of International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after acquiring an additional 123 shares during the period. Finally, Wolff Wiese Magana LLC lifted its position in International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 0.3 %

NYSE IBM opened at $232.22 on Friday. The stock’s 50 day simple moving average is $212.19 and its 200 day simple moving average is $189.15. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The firm has a market cap of $213.32 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a one year low of $135.87 and a one year high of $237.37.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the business posted $2.18 EPS. International Business Machines’s revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on IBM shares. The Goldman Sachs Group upped their price target on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Evercore ISI lifted their target price on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Royal Bank of Canada upped their price target on shares of International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Jefferies Financial Group boosted their target price 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. Finally, BMO Capital Markets upped their price target on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $203.06.

About International Business Machines

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.