Bangor Savings Bank Has $3.73 Million Position in International Business Machines Co. (NYSE:IBM)

Bangor Savings Bank cut its holdings in International Business Machines Co. (NYSE:IBM) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,860 shares of the technology company’s stock after selling 111 shares during the quarter. International Business Machines comprises approximately 0.4% of Bangor Savings Bank’s holdings, making the stock its 29th largest position. Bangor Savings Bank’s holdings in International Business Machines were worth $3,727,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in IBM. Susquehanna Fundamental Investments LLC acquired a new stake in International Business Machines in the 2nd quarter worth approximately $7,160,000. Hodges Capital Management Inc. boosted its holdings in International Business Machines by 60.8% during the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock valued at $3,921,000 after acquiring an additional 7,768 shares during the period. Burns J W & Co. Inc. NY increased its stake in shares of International Business Machines by 10.8% in the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock worth $491,000 after purchasing an additional 250 shares during the period. Smith Thornton Advisors LLC acquired a new position in shares of International Business Machines during the 2nd quarter worth about $702,000. Finally, GAMMA Investing LLC boosted its stake in International Business Machines by 42.4% during the 2nd quarter. GAMMA Investing LLC now owns 9,370 shares of the technology company’s stock valued at $1,621,000 after purchasing an additional 2,788 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Up 0.5 %

Shares of NYSE:IBM opened at $227.09 on Tuesday. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $227.67. The firm has a market cap of $208.61 billion, a P/E ratio of 25.72, a P/E/G ratio of 4.90 and a beta of 0.70. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The company’s 50-day moving average price is $203.61 and its two-hundred day moving average price is $186.17.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The firm had revenue of $15.77 billion for 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%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $2.18 EPS. As a group, research analysts forecast that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Royal Bank of Canada upped their price target on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Bernstein Bank raised their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. The Goldman Sachs Group increased their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. UBS Group boosted their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Finally, Jefferies Financial Group raised their price objective 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. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average price target of $194.35.

International Business Machines Company 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.