Spinnaker Trust Lowers Stock Holdings in International Business Machines Co. (NYSE:IBM)

Spinnaker Trust reduced its holdings in International Business Machines Co. (NYSE:IBM) by 6.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,467 shares of the technology company’s stock after selling 1,141 shares during the quarter. Spinnaker Trust’s holdings in International Business Machines were worth $3,641,000 at the end of the most recent reporting period.

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

International Business Machines Trading Up 2.1 %

NYSE IBM traded up $4.35 during trading on Wednesday, hitting $211.92. The stock had a trading volume of 885,652 shares, compared to its average volume of 4,238,579. International Business Machines Co. has a one year low of $145.28 and a one year high of $237.37. The stock has a market capitalization of $195.95 billion, a price-to-earnings ratio of 30.85, a P/E/G ratio of 4.68 and a beta of 0.71. The stock has a 50 day simple moving average of $217.19 and a 200 day simple moving average of $191.71. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. International Business Machines’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.20 EPS. Sell-side analysts predict that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Wall Street Analyst Weigh In

IBM has been the topic of a number of research analyst reports. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Bank of America boosted their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley lowered their target price on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Jefferies Financial Group raised their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Finally, UBS Group boosted their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, International Business Machines 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.