Comerica Bank Trims Stock Position in International Business Machines Co. (NYSE:IBM)

Comerica Bank trimmed its holdings in International Business Machines Co. (NYSE:IBM) by 5.7% in the 4th quarter, HoldingsChannel reports. The fund owned 312,724 shares of the technology company’s stock after selling 18,952 shares during the quarter. Comerica Bank’s holdings in International Business Machines were worth $68,746,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. Passumpsic Savings Bank lifted its stake in International Business Machines by 3.8% during the third quarter. Passumpsic Savings Bank now owns 2,045 shares of the technology company’s stock worth $452,000 after purchasing an additional 74 shares in the last quarter. Virtu Financial LLC acquired a new position in International Business Machines during the 3rd quarter worth about $766,000. Westside Investment Management Inc. boosted its holdings in International Business Machines by 12.2% during the 3rd quarter. Westside Investment Management Inc. now owns 919 shares of the technology company’s stock valued at $188,000 after acquiring an additional 100 shares during the period. SOA Wealth Advisors LLC. grew its position in International Business Machines by 4.6% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 3,140 shares of the technology company’s stock valued at $694,000 after acquiring an additional 139 shares in the last quarter. Finally, Diamant Asset Management Inc. boosted its stake in shares of International Business Machines by 11.0% in the third quarter. Diamant Asset Management Inc. now owns 1,610 shares of the technology company’s stock valued at $356,000 after purchasing an additional 160 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by company insiders.

Analyst Ratings Changes

IBM has been the topic of a number of recent research reports. Morgan Stanley cut their price objective on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Jefferies Financial Group restated a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the stock a “hold” rating in a report on Thursday, April 24th. BMO Capital Markets reaffirmed a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Bank of America raised their price target on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $242.41.

International Business Machines Trading Up 1.3 %

NYSE:IBM opened at $239.30 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The stock has a fifty day simple moving average of $244.27 and a 200-day simple moving average of $233.97. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45. The company has a market capitalization of $221.89 billion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The business had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same period in the prior year, the business earned $1.68 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. On average, equities research analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.81%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) is presently 114.97%.

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.