Chesapeake Wealth Management Sells 420 Shares of International Business Machines Co. (NYSE:IBM)

Chesapeake Wealth Management cut its holdings in International Business Machines Co. (NYSE:IBM) by 16.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,184 shares of the technology company’s stock after selling 420 shares during the period. Chesapeake Wealth Management’s holdings in International Business Machines were worth $378,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Gilbert & Cook Inc. grew its holdings in International Business Machines by 2.7% during the fourth quarter. Gilbert & Cook Inc. now owns 3,892 shares of the technology company’s stock valued at $637,000 after purchasing an additional 101 shares during the period. Aveo Capital Partners LLC lifted its position in shares of International Business Machines by 3.6% during the 4th quarter. Aveo Capital Partners LLC now owns 3,101 shares of the technology company’s stock valued at $507,000 after buying an additional 109 shares in the last quarter. Gryphon Financial Partners LLC grew its stake in shares of International Business Machines by 6.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,394 shares of the technology company’s stock valued at $386,000 after acquiring an additional 147 shares during the period. TrinityPoint Wealth LLC increased its holdings in International Business Machines by 12.3% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,909 shares of the technology company’s stock worth $639,000 after acquiring an additional 428 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in International Business Machines by 32.7% during the 4th quarter. Clearbridge Investments LLC now owns 45,653 shares of the technology company’s stock worth $7,467,000 after acquiring an additional 11,247 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 1.7 %

NYSE IBM opened at $217.63 on Friday. The stock has a 50 day moving average price of $196.52 and a 200-day moving average price of $184.38. International Business Machines Co. has a one year low of $135.87 and a one year high of $218.84. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The company has a market capitalization of $199.92 billion, a P/E ratio of 24.65, a P/E/G ratio of 4.67 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating the consensus estimate 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 business had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter last year, the business earned $2.18 earnings per share. International Business Machines’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, equities analysts predict that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 3.07%. International Business Machines’s dividend payout ratio is currently 75.65%.

Analysts Set New Price Targets

A number of research firms have weighed in on IBM. Stifel Nicolaus upped their price target on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Royal Bank of Canada upped their target price on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. The Goldman Sachs Group began coverage on International Business Machines in a research note on Monday, June 24th. They issued a “buy” rating and a $200.00 price target for the company. Jefferies Financial Group boosted their price objective on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $188.60.

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.