Stonebridge Capital Management Inc. Sells 350 Shares of International Business Machines Co. (NYSE:IBM)

Stonebridge Capital Management Inc. cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,266 shares of the technology company’s stock after selling 350 shares during the quarter. International Business Machines makes up about 1.9% of Stonebridge Capital Management Inc.’s investment portfolio, making the stock its 19th biggest position. Stonebridge Capital Management Inc.’s holdings in International Business Machines were worth $4,702,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of IBM. Vanguard Group Inc. raised its holdings in International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after acquiring an additional 5,546,855 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of International Business Machines by 306.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after purchasing an additional 1,056,759 shares during the last quarter. Strategic Financial Concepts LLC increased its holdings in shares of International Business Machines by 12,282.2% in the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock worth $817,000 after purchasing an additional 468,567 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of International Business Machines by 6.4% in the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after purchasing an additional 444,698 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus lifted their target price on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. 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 research report on Monday, September 30th. Jefferies Financial Group lifted their price target on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. UBS Group lifted their price target on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Finally, Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $194.35.

International Business Machines Stock Up 0.5 %

Shares of NYSE IBM opened at $227.09 on Tuesday. 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 firm has a market capitalization of $208.61 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 4.90 and a beta of 0.70. The stock has a 50 day moving average price of $203.61 and a 200 day moving average price of $186.17. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $227.67.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results 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. The firm had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. International Business Machines’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.18 earnings per share. Sell-side analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.94%. International Business Machines’s payout ratio is 75.65%.

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.