Citizens & Northern Corp Reduces Stock Position in International Business Machines Corporation $IBM

Citizens & Northern Corp trimmed its stake in shares of International Business Machines Corporation (NYSE:IBM) by 12.6% in the 2nd quarter, Holdings Channel reports. The firm owned 2,859 shares of the technology company’s stock after selling 412 shares during the period. Citizens & Northern Corp’s holdings in International Business Machines were worth $843,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IBM. Family CFO Inc bought a new stake in shares of International Business Machines in the second quarter worth $25,000. Christopher J. Hasenberg Inc purchased a new position in International Business Machines in the first quarter worth about $27,000. SSA Swiss Advisors AG bought a new stake in shares of International Business Machines during the 1st quarter valued at about $28,000. Highline Wealth Partners LLC increased its position in shares of International Business Machines by 85.0% during the 2nd quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock valued at $33,000 after purchasing an additional 51 shares during the last quarter. Finally, Dagco Inc. bought a new position in shares of International Business Machines in the 1st quarter worth approximately $31,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 0.6%

IBM opened at $282.07 on Wednesday. The stock has a market cap of $262.16 billion, a price-to-earnings ratio of 45.79, a price-to-earnings-growth ratio of 4.36 and a beta of 0.73. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The firm’s fifty day moving average is $262.97 and its 200 day moving average is $262.39. International Business Machines Corporation has a fifty-two week low of $203.51 and a fifty-two week high of $301.04.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The business had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. During the same quarter in the prior year, the business posted $2.43 EPS. International Business Machines’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, sell-side analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of International Business Machines in a report on Wednesday, October 8th. Morgan Stanley lifted their price target on shares of International Business Machines from $253.00 to $256.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Bank of America reduced their price objective on International Business Machines from $320.00 to $310.00 and set a “buy” rating for the company in a research note on Thursday, July 24th. Stifel Nicolaus lifted their target price on International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Finally, UBS Group upped their price target on International Business Machines from $195.00 to $200.00 and gave the stock a “sell” rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $289.08.

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.