CNB Bank Has $432,000 Stake in International Business Machines Co. (NYSE:IBM)

CNB Bank trimmed its stake in International Business Machines Co. (NYSE:IBM) by 10.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,954 shares of the technology company’s stock after selling 231 shares during the quarter. CNB Bank’s holdings in International Business Machines were worth $432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Salem Investment Counselors Inc. increased its stake in shares of International Business Machines by 2.0% in the first quarter. Salem Investment Counselors Inc. now owns 6,621 shares of the technology company’s stock worth $1,264,000 after acquiring an additional 129 shares during the last quarter. Ballentine Partners LLC increased its position in International Business Machines by 10.6% in the 1st quarter. Ballentine Partners LLC now owns 14,367 shares of the technology company’s stock worth $2,744,000 after purchasing an additional 1,381 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of International Business Machines during the 1st quarter worth about $136,000. CHICAGO TRUST Co NA lifted its holdings in shares of International Business Machines by 5.6% during the 1st quarter. CHICAGO TRUST Co NA now owns 9,025 shares of the technology company’s stock valued at $1,723,000 after buying an additional 479 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its stake in shares of International Business Machines by 27.9% in the 1st quarter. AdvisorNet Financial Inc now owns 5,997 shares of the technology company’s stock valued at $1,145,000 after buying an additional 1,309 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

NYSE:IBM opened at $232.20 on Friday. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a one year low of $135.87 and a one year high of $237.37. The company has a fifty day moving average price of $212.19 and a 200 day moving average price of $189.15. The stock has a market cap of $213.30 billion, a P/E ratio of 26.30, a PEG ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data 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 net margin of 13.52% and a return on equity of 40.59%. The business had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the prior year, the business earned $2.18 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on IBM shares. 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 research report on Wednesday, October 2nd. 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 research note on Wednesday. Morgan Stanley upped their price objective on shares of International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a report on Thursday. Jefferies Financial Group raised their target price on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, Evercore ISI upped their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average target price of $203.06.

International Business Machines Company 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.