Country Club Bank Cuts Position in International Business Machines Co. (NYSE:IBM)

Country Club Bank lessened its position in shares of International Business Machines Co. (NYSE:IBM) by 9.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,368 shares of the technology company’s stock after selling 445 shares during the quarter. Country Club Bank’s holdings in International Business Machines were worth $965,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Foguth Wealth Management LLC. bought a new stake in shares of International Business Machines in the 1st quarter valued at approximately $273,000. Cornerstone Wealth Group LLC lifted its stake in shares of International Business Machines by 97.9% in the 1st quarter. Cornerstone Wealth Group LLC now owns 3,431 shares of the technology company’s stock valued at $655,000 after purchasing an additional 1,697 shares during the last quarter. Trilogy Capital Inc. bought a new stake in shares of International Business Machines in the 1st quarter valued at approximately $434,000. Citizens Business Bank lifted its stake in shares of International Business Machines by 11.5% in the 1st quarter. Citizens Business Bank now owns 2,092 shares of the technology company’s stock valued at $399,000 after purchasing an additional 216 shares during the last quarter. Finally, LVW Advisors LLC bought a new stake in shares of International Business Machines in the 1st quarter valued at approximately $330,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 1.7 %

IBM opened at $214.67 on Friday. The stock’s fifty day moving average is $215.58 and its two-hundred day moving average is $190.43. The company has a market capitalization of $197.74 billion, a P/E ratio of 23.67, a PEG ratio of 4.84 and a beta of 0.70. International Business Machines Co. has a 52 week low of $141.58 and a 52 week high of $237.37. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period last year, the business posted $2.20 EPS. The business’s revenue was up 1.5% compared to the same quarter last year. Analysts forecast that International Business Machines Co. will post 10.13 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 3.11%. International Business Machines’s dividend payout ratio (DPR) is 73.65%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on IBM shares. Morgan Stanley lowered their price objective on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday. Bank of America raised their price target 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. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday. Stifel Nicolaus raised their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group raised their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $208.12.

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.