International Business Machines Co. (NYSE:IBM) Shares Sold by St. Louis Trust Co

St. Louis Trust Co cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 24.4% in the third quarter, HoldingsChannel.com reports. The fund owned 3,500 shares of the technology company’s stock after selling 1,132 shares during the period. St. Louis Trust Co’s holdings in International Business Machines were worth $774,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Edgestream Partners L.P. boosted its stake in shares of International Business Machines by 119.6% in the first quarter. Edgestream Partners L.P. now owns 9,127 shares of the technology company’s stock worth $1,743,000 after acquiring an additional 4,971 shares during the last quarter. Bahl & Gaynor Inc. grew its holdings in shares of International Business Machines by 1.4% during the first quarter. Bahl & Gaynor Inc. now owns 8,400 shares of the technology company’s stock worth $1,604,000 after buying an additional 116 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of International Business Machines by 31.8% in the first quarter. Bessemer Group Inc. now owns 71,057 shares of the technology company’s stock worth $13,569,000 after buying an additional 17,144 shares in the last quarter. Lake Street Advisors Group LLC grew its stake in International Business Machines by 25.8% during the 1st quarter. Lake Street Advisors Group LLC now owns 4,455 shares of the technology company’s stock valued at $851,000 after acquiring an additional 915 shares in the last quarter. Finally, Pitcairn Co. raised its holdings in International Business Machines by 9.4% in the 1st quarter. Pitcairn Co. now owns 5,180 shares of the technology company’s stock valued at $989,000 after acquiring an additional 444 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is owned by corporate insiders.

International Business Machines Trading Up 1.5 %

Shares of IBM stock opened at $208.09 on Tuesday. International Business Machines Co. has a fifty-two week low of $152.35 and a fifty-two week high of $237.37. The company has a 50 day moving average price of $218.88 and a 200 day moving average price of $194.18. The stock has a market capitalization of $192.41 billion, a P/E ratio of 30.29, a price-to-earnings-growth ratio of 4.60 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter last year, the company posted $2.20 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. Equities research analysts predict that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business 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 dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.21%. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus increased their price target on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. The Goldman Sachs Group lifted their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Jefferies Financial Group upped their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Morgan Stanley cut their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $208.12.

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.