Bangor Savings Bank Trims Position in International Business Machines Co. (NYSE:IBM)

Bangor Savings Bank trimmed its position in International Business Machines Co. (NYSE:IBM) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,686 shares of the technology company’s stock after selling 174 shares during the period. Bangor Savings Bank’s holdings in International Business Machines were worth $3,668,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in IBM. International Assets Investment Management LLC increased its stake in shares of International Business Machines by 20,324.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after purchasing an additional 2,702,340 shares in the last quarter. Holocene Advisors LP purchased a new stake in International Business Machines in the 3rd quarter worth $573,306,000. State Street Corp raised its holdings in International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after acquiring an additional 1,200,803 shares during the period. Thrivent Financial for Lutherans raised its stake in International Business Machines by 306.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after purchasing an additional 1,056,759 shares during the period. Finally, Eagle Asset Management Inc. lifted its holdings in International Business Machines by 587.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock worth $134,262,000 after purchasing an additional 536,785 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Up 0.0 %

NYSE:IBM opened at $222.67 on Tuesday. The company has a market cap of $205.89 billion, a price-to-earnings ratio of 32.41, a price-to-earnings-growth ratio of 5.18 and a beta of 0.74. International Business Machines Co. has a twelve month low of $157.88 and a twelve month high of $239.35. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The stock has a fifty day simple moving average of $220.73 and a 200-day simple moving average of $208.12.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The company 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%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted $2.20 EPS. Analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were paid a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.00%. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Bank of America raised their price target on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Stifel Nicolaus boosted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Bernstein Bank boosted their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group upped their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $214.88.

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.