Prentiss Smith & Co. Inc. Sells 150 Shares of International Business Machines Co. (NYSE:IBM)

Prentiss Smith & Co. Inc. decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 7.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,810 shares of the technology company’s stock after selling 150 shares during the quarter. Prentiss Smith & Co. Inc.’s holdings in International Business Machines were worth $400,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of International Business Machines by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after purchasing an additional 5,546,855 shares during the last quarter. Legal & General Group Plc grew its stake in International Business Machines by 4.1% in the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after purchasing an additional 330,694 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after acquiring an additional 444,698 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in International Business Machines by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after acquiring an additional 304,390 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in International Business Machines by 151.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 0.2 %

International Business Machines stock traded down $0.56 during midday trading on Monday, hitting $231.64. The stock had a trading volume of 1,114,063 shares, compared to its average volume of 4,180,242. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The stock has a market cap of $212.79 billion, a P/E ratio of 26.26, a P/E/G ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $237.37. The business has a fifty day moving average price of $212.19 and a 200 day moving average price of $189.14.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share 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 company had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the prior year, the company earned $2.18 EPS. International Business Machines’s revenue was up 1.9% on a year-over-year basis. Research analysts predict that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on IBM. Evercore ISI raised their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Stifel Nicolaus upped their price target on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Bank of America increased their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group upped their price target on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $205.71.

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.