CNB Bank Has $376,000 Stock Position in International Business Machines Co. (NYSE:IBM)

CNB Bank lowered its stake in shares of International Business Machines Co. (NYSE:IBM) by 12.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,712 shares of the technology company’s stock after selling 242 shares during the period. CNB Bank’s holdings in International Business Machines were worth $376,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of 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 worth $12,307,940,000 after buying an additional 1,200,803 shares in the last quarter. Legal & General Group Plc increased its position in International Business Machines by 4.1% during the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after acquiring an additional 330,694 shares during the period. Ameriprise Financial Inc. boosted its holdings in International Business Machines by 6.4% in 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 purchasing an additional 444,698 shares during the period. FMR LLC raised its position in shares of International Business Machines by 6.0% in the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after buying an additional 294,276 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of International Business Machines by 0.5% during the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock worth $602,819,000 after purchasing an additional 12,400 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM opened at $225.27 on Friday. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The firm has a market cap of $208.30 billion, a PE ratio of 32.80, a PEG ratio of 4.71 and a beta of 0.74. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $239.35. The stock’s fifty day moving average price is $222.47 and its two-hundred day moving average price is $210.23.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.20 earnings per share. On average, equities research analysts forecast that International Business Machines Co. will post 10.16 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders 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 dividend on an annualized basis and a yield of 2.97%. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on IBM. Bernstein Bank upped their target price on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Jefferies Financial Group raised their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Finally, BMO Capital Markets upped their price target on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $215.81.

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.