Piscataqua Savings Bank Sells 50 Shares of International Business Machines Co. (NYSE:IBM)

Piscataqua Savings Bank decreased its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,013 shares of the technology company’s stock after selling 50 shares during the period. Piscataqua Savings Bank’s holdings in International Business Machines were worth $666,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in IBM. Susquehanna Fundamental Investments LLC bought a new position in shares of International Business Machines in the 2nd quarter worth approximately $7,160,000. Hodges Capital Management Inc. raised its position in International Business Machines by 60.8% in the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock worth $3,921,000 after acquiring an additional 7,768 shares during the period. Burns J W & Co. Inc. NY boosted its stake in shares of International Business Machines by 10.8% during the 1st quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock worth $491,000 after acquiring an additional 250 shares during the last quarter. Smith Thornton Advisors LLC bought a new stake in shares of International Business Machines during the 2nd quarter valued at $702,000. Finally, Retirement Planning Group LLC purchased a new stake in shares of International Business Machines in the 3rd quarter worth $618,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

NYSE:IBM opened at $233.00 on Wednesday. The business’s 50-day moving average is $209.64 and its 200 day moving average is $188.23. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $237.37. The company has a market capitalization of $214.03 billion, a P/E ratio of 26.39, a P/E/G ratio of 5.21 and a beta of 0.70. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the firm earned $2.18 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities research analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed 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 of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 2.87%. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Evercore ISI lifted their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. The Goldman Sachs Group lifted their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Jefferies Financial Group increased their target price on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Royal Bank of Canada lifted their price target on shares of International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Finally, Bank of America increased their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $198.41.

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.