FARMERS & MERCHANTS TRUST Co OF LONG BEACH Sells 265 Shares of International Business Machines Co. (NYSE:IBM)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 10.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,277 shares of the technology company’s stock after selling 265 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in International Business Machines were worth $503,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of IBM. FPC Investment Advisory Inc. purchased a new position in International Business Machines during the first quarter valued at $26,000. ESL Trust Services LLC bought a new stake in International Business Machines during the 1st quarter worth approximately $28,000. Creekmur Asset Management LLC bought a new stake in shares of International Business Machines during the 4th quarter valued at $29,000. Ables Iannone Moore & Associates Inc. bought a new position in International Business Machines in the 4th quarter worth $31,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new stake in International Business Machines in the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $233.34 on Friday. The firm has a 50-day simple moving average of $207.67 and a 200-day simple moving average of $187.65. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The stock has a market capitalization of $214.94 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $235.83.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data 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. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the prior year, the firm posted $2.18 earnings per share. International Business Machines’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities 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 disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.86%. International Business Machines’s payout ratio is currently 73.65%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Bank of America upped their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday. UBS Group lifted their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Bernstein Bank increased their target price on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Finally, BMO Capital Markets raised their price target on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $198.41.

International Business Machines Company 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.