International Business Machines Co. (NYSE:IBM) Shares Sold by Busey Bank

Busey Bank decreased its position in International Business Machines Co. (NYSE:IBM) by 14.6% during the 3rd quarter, Holdings Channel reports. The fund owned 21,135 shares of the technology company’s stock after selling 3,618 shares during the quarter. Busey Bank’s holdings in International Business Machines were worth $4,673,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in IBM. Vanguard Group Inc. raised its holdings in shares of International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after purchasing an additional 5,546,855 shares in the last quarter. Legal & General Group Plc increased its holdings in International Business Machines by 4.1% in the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after buying an additional 330,694 shares during the last quarter. Ameriprise Financial Inc. raised its stake in International Business Machines by 6.4% in the second 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 in the last quarter. Dimensional Fund Advisors LP lifted its holdings in International Business Machines by 6.8% during 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 boosted its position in shares of 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 worth $671,352,000 after acquiring an additional 2,118,165 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Stifel Nicolaus boosted their target price 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. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. BMO Capital Markets increased their target price on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday. Evercore ISI upped their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Finally, Bank of America raised their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Three equities research 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 MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Price Performance

International Business Machines stock opened at $218.28 on Friday. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The business has a 50 day simple moving average of $214.67 and a 200-day simple moving average of $190.05. International Business Machines Co. has a 12 month low of $136.33 and a 12 month high of $237.37. The stock has a market capitalization of $200.51 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter last year, the business earned $2.20 EPS. The business’s revenue was up 1.5% on a year-over-year basis. Equities analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio 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.