Estabrook Capital Management Sells 357 Shares of International Business Machines Co. (NYSE:IBM)

Estabrook Capital Management cut its holdings in International Business Machines Co. (NYSE:IBM) by 0.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 74,964 shares of the technology company’s stock after selling 357 shares during the period. International Business Machines accounts for approximately 2.0% of Estabrook Capital Management’s portfolio, making the stock its 11th biggest holding. Estabrook Capital Management’s holdings in International Business Machines were worth $12,965,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in IBM. FPC Investment Advisory Inc. bought a new position in International Business Machines in the 1st quarter worth approximately $26,000. ESL Trust Services LLC bought a new position in International Business Machines during the first quarter worth $28,000. Creekmur Asset Management LLC acquired a new position in International Business Machines during the 4th quarter valued at $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in International Business Machines in the 4th quarter worth $31,000. Finally, Financial Synergies Wealth Advisors Inc. raised its position in shares of International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after buying an additional 123 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the topic of a number of recent research reports. Stifel Nicolaus lifted their target price on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. The Goldman Sachs Group initiated coverage on International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price for the company. Royal Bank of Canada boosted their price target on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, BMO Capital Markets raised their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $188.60.

International Business Machines Stock Performance

NYSE IBM opened at $217.70 on Friday. The firm has a market cap of $199.98 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 4.67 and a beta of 0.70. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $218.84. The company has a 50 day moving average of $196.52 and a 200-day moving average of $184.33.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.27. The firm 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 business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.18 EPS. On average, equities analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio is currently 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.