CNB Bank Sells 231 Shares of International Business Machines Co. (NYSE:IBM)

CNB Bank lowered its holdings in International Business Machines Co. (NYSE:IBM) by 10.6% during the third quarter, HoldingsChannel.com reports. The fund owned 1,954 shares of the technology company’s stock after selling 231 shares during the period. CNB Bank’s holdings in International Business Machines were worth $432,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ellenbecker Investment Group lifted its position in International Business Machines by 2.3% during the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after buying an additional 46 shares in the last quarter. Armbruster Capital Management Inc. raised its holdings in International Business Machines by 2.3% during the second quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock worth $432,000 after acquiring an additional 56 shares in the last quarter. Aspect Partners LLC grew its stake in International Business Machines by 11.2% in the third quarter. Aspect Partners LLC now owns 554 shares of the technology company’s stock valued at $122,000 after purchasing an additional 56 shares in the last quarter. CVA Family Office LLC grew its stake in International Business Machines by 3.3% in the second quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock valued at $311,000 after purchasing an additional 57 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC increased its position in shares of International Business Machines by 5.1% during the 2nd quarter. Mill Creek Capital Advisors LLC now owns 1,165 shares of the technology company’s stock worth $201,000 after purchasing an additional 57 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on IBM shares. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. BMO Capital Markets increased their price target on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. The Goldman Sachs Group boosted their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada boosted their price target on International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus price target of $203.06.

International Business Machines Trading Down 0.3 %

Shares of International Business Machines stock opened at $232.20 on Friday. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The firm has a 50-day moving average of $212.19 and a 200-day moving average of $189.15. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $237.37. The stock has a market cap of $213.30 billion, a PE ratio of 26.30, a PEG ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the previous year, the firm posted $2.18 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts forecast that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders 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 dividend on an annualized basis and a yield of 2.88%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

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.