Bangor Savings Bank Cuts Position in International Business Machines Co. (NYSE:IBM)

Bangor Savings Bank reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.0% in the fourth quarter, HoldingsChannel reports. The firm owned 16,686 shares of the technology company’s stock after selling 174 shares during the period. Bangor Savings Bank’s holdings in International Business Machines were worth $3,668,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Lantz Financial LLC increased its position in shares of International Business Machines by 0.9% during the second quarter. Lantz Financial LLC now owns 11,935 shares of the technology company’s stock worth $2,064,000 after purchasing an additional 107 shares in the last quarter. Strategic Financial Concepts LLC raised its stake in International Business Machines by 12,282.2% in the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after buying an additional 468,567 shares during the last quarter. Koss Olinger Consulting LLC acquired a new stake in International Business Machines in the second quarter worth about $390,000. Ellis Investment Partners LLC grew its stake in shares of International Business Machines by 13.1% during the second quarter. Ellis Investment Partners LLC now owns 2,233 shares of the technology company’s stock worth $386,000 after acquiring an additional 258 shares during the last quarter. Finally, Fox Hill Wealth Management increased its holdings in shares of International Business Machines by 245.3% during the second quarter. Fox Hill Wealth Management now owns 3,715 shares of the technology company’s stock valued at $643,000 after acquiring an additional 2,639 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

NYSE:IBM opened at $222.67 on Tuesday. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The company has a 50 day moving average price of $220.73 and a 200-day moving average price of $208.12. International Business Machines Co. has a 1-year low of $157.88 and a 1-year high of $239.35. The firm has a market cap of $205.89 billion, a price-to-earnings ratio of 32.41, a price-to-earnings-growth ratio of 5.18 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the previous year, the company earned $2.20 earnings per share. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities research analysts forecast that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were given a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.00%. International Business Machines’s dividend payout ratio is currently 97.23%.

Analysts Set New Price Targets

A number of analysts recently commented on IBM shares. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Jefferies Financial Group boosted their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Evercore ISI raised their target price 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. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research note on Wednesday, October 2nd. Finally, Sanford C. Bernstein raised their price objective on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $214.88.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.07% of the stock is owned by corporate insiders.

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.