Washington Trust Bank Has $271,000 Stock Position in International Business Machines Co. (NYSE:IBM)

Washington Trust Bank cut its position in International Business Machines Co. (NYSE:IBM) by 38.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,224 shares of the technology company’s stock after selling 774 shares during the period. Washington Trust Bank’s holdings in International Business Machines were worth $271,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new stake in shares of International Business Machines during the first quarter valued at approximately $26,000. ESL Trust Services LLC bought a new stake in shares of International Business Machines during the first quarter worth about $28,000. Hazlett Burt & Watson Inc. raised its holdings in shares of International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares during the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines during the 2nd quarter valued at about $36,000. Finally, Wolff Wiese Magana LLC increased its holdings in International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on IBM. Morgan Stanley lowered their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Evercore ISI upped their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. The Goldman Sachs Group increased their price target on 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, Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $208.12.

International Business Machines Stock Performance

Shares of NYSE:IBM traded up $0.47 during midday trading on Thursday, reaching $214.07. 156,006 shares of the company traded hands, compared to its average volume of 4,233,460. The firm’s fifty day moving average price is $217.49 and its two-hundred day moving average price is $191.86. The firm has a market capitalization of $197.94 billion, a price-to-earnings ratio of 31.09, a price-to-earnings-growth ratio of 4.64 and a beta of 0.71. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 12 month low of $145.28 and a 12 month high of $237.37.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.20 earnings per share. On average, equities analysts expect that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.12%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

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.