Trust Co. of Toledo NA OH Sells 1,504 Shares of International Business Machines Co. (NYSE:IBM)

Trust Co. of Toledo NA OH lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 8.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,689 shares of the technology company’s stock after selling 1,504 shares during the period. Trust Co. of Toledo NA OH’s holdings in International Business Machines were worth $3,690,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of IBM. Susquehanna Fundamental Investments LLC acquired a new position in International Business Machines in the 2nd quarter valued at approximately $7,160,000. Mosley Wealth Management bought a new position in International Business Machines during the 4th quarter worth $312,000. Hodges Capital Management Inc. lifted its holdings in International Business Machines by 60.8% during the 1st quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock worth $3,921,000 after buying an additional 7,768 shares during the period. Burns J W & Co. Inc. NY grew its position in shares of International Business Machines by 10.8% in the 1st quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock valued at $491,000 after buying an additional 250 shares during the last quarter. Finally, 1832 Asset Management L.P. acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $3,017,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Up 0.2 %

International Business Machines stock opened at $219.68 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The firm’s fifty day moving average price is $202.31 and its two-hundred day moving average price is $185.78. The firm has a market capitalization of $201.80 billion, a price-to-earnings ratio of 24.88, a price-to-earnings-growth ratio of 4.90 and a beta of 0.70. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $224.15.

International Business Machines (NYSE:IBM) last released its quarterly earnings results 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. The business had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.18 EPS. On average, equities research analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Friday, August 9th. International Business Machines’s payout ratio is currently 75.65%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on IBM shares. Stifel Nicolaus upped their target price on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, July 25th. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research note on Wednesday. UBS Group lifted their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Finally, Royal Bank of Canada lifted their price objective on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $193.38.

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.