Citizens Business Bank Cuts Stock Position in International Business Machines Co. (NYSE:IBM)

Citizens Business Bank trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 17.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,882 shares of the technology company’s stock after selling 606 shares during the period. Citizens Business Bank’s holdings in International Business Machines were worth $637,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hazlett Burt & Watson Inc. boosted its stake in International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares during the last quarter. Hara Capital LLC purchased a new position in International Business Machines in the third quarter valued at approximately $29,000. Oliver Lagore Vanvalin Investment Group bought a new position in International Business Machines during the second quarter valued at $36,000. Capital Performance Advisors LLP purchased a new stake in International Business Machines in the third quarter worth $43,000. Finally, Briaud Financial Planning Inc raised its stake in shares of International Business Machines by 54.3% in the second 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 during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Up 0.8 %

International Business Machines stock opened at $231.76 on Wednesday. The stock has a market cap of $214.30 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 5.16 and a beta of 0.73. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The stock has a fifty day moving average of $221.92 and a 200 day moving average of $200.27. International Business Machines Co. has a one year low of $157.88 and a one year high of $239.35.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.20 EPS. As a group, sell-side analysts predict that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.07% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

IBM has been the subject of several research reports. Bank of America increased their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group increased their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Evercore ISI upped their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. UBS Group lifted their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Finally, Jefferies Financial Group upped their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $208.12.

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.