UMB Bank n.a. Decreases Stock Position in International Business Machines Co. (NYSE:IBM)

UMB Bank n.a. cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 5.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 57,081 shares of the technology company’s stock after selling 3,489 shares during the quarter. UMB Bank n.a.’s holdings in International Business Machines were worth $12,619,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of International Business Machines by 6.7% in the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after purchasing an additional 5,546,855 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in International Business Machines by 151.6% in 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 during the last quarter. Thrivent Financial for Lutherans increased its position in shares of International Business Machines by 306.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after acquiring an additional 1,056,759 shares during the period. Strategic Financial Concepts LLC raised its stake in shares of International Business Machines by 12,282.2% during the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after acquiring an additional 468,567 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of 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 worth $1,274,074,000 after purchasing an additional 444,698 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Royal Bank of Canada upped their price target on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a report on Wednesday, October 2nd. Stifel Nicolaus lifted their price target on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a report 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 company a “buy” rating in a research report on Monday, September 30th. Finally, Bank of America raised their target price on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $196.12.

International Business Machines Stock Down 0.7 %

Shares of NYSE IBM traded down $1.61 on Thursday, reaching $232.69. 850,347 shares of the company’s stock traded hands, compared to its average volume of 4,200,446. The business’s 50 day simple moving average is $205.92 and its two-hundred day simple moving average is $187.02. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $235.83. The company has a market cap of $213.75 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 4.90 and a beta of 0.70. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

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

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is presently 75.65%.

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.