Whittier Trust Co. Sells 2,251 Shares of International Business Machines Co. (NYSE:IBM)

Whittier Trust Co. reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 5.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 39,082 shares of the technology company’s stock after selling 2,251 shares during the period. Whittier Trust Co.’s holdings in International Business Machines were worth $8,640,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FPC Investment Advisory Inc. purchased a new stake in shares of International Business Machines during the 1st quarter valued at approximately $26,000. ESL Trust Services LLC purchased a new stake in shares of International Business Machines during the 1st quarter valued at approximately $28,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of International Business Machines during the 2nd quarter valued at approximately $36,000. Wolff Wiese Magana LLC lifted its stake in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after buying an additional 60 shares in the last quarter. Finally, Briaud Financial Planning Inc lifted its stake in shares of International Business Machines by 54.3% during the 2nd quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock valued at $49,000 after buying an additional 100 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Bernstein Bank upped their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Morgan Stanley upped their price target on shares of International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Stifel Nicolaus raised their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Evercore ISI raised their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Finally, Bank of America raised their price target on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $205.71.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $231.83 on Tuesday. 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 has a market capitalization of $212.96 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. The business’s 50-day moving average price is $213.04 and its 200-day moving average price is $189.45. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $237.37.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $15.62 billion. During the same period in the prior year, the business posted $2.18 EPS. International Business Machines’s quarterly revenue was up 1.9% compared to the same quarter last year. Sell-side analysts forecast that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Friday, August 9th. International Business Machines’s 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.