WASHINGTON TRUST Co Has $2.95 Million Holdings in International Business Machines Co. (NYSE:IBM)

WASHINGTON TRUST Co grew its holdings in International Business Machines Co. (NYSE:IBM) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,360 shares of the technology company’s stock after buying an additional 266 shares during the period. WASHINGTON TRUST Co’s holdings in International Business Machines were worth $2,954,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in IBM. Vanguard Group Inc. increased its holdings in shares of International Business Machines by 6.7% in 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 purchasing an additional 5,546,855 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of International Business Machines by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after buying an additional 330,694 shares during the period. Ameriprise Financial Inc. grew its stake in International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after buying an additional 444,698 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in International Business Machines by 6.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock valued at $829,431,000 after acquiring an additional 304,390 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in International Business Machines by 151.6% during 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 acquiring an additional 2,118,165 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Down 1.9 %

Shares of IBM traded down $3.94 during mid-day trading on Wednesday, reaching $206.49. 1,779,162 shares of the company were exchanged, compared to its average volume of 4,241,477. The business has a 50 day simple moving average of $216.23 and a two-hundred day simple moving average of $190.85. 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 stock has a market capitalization of $189.68 billion, a PE ratio of 23.53, a PEG ratio of 4.84 and a beta of 0.70. International Business Machines Co. has a 52 week low of $142.59 and a 52 week high of $237.37.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same period in the prior year, the firm posted $2.20 EPS. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, analysts predict that International Business Machines Co. will post 10.13 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.24%. International Business Machines’s payout ratio is 75.65%.

Wall Street Analyst Weigh In

IBM has been the topic of a number of recent research reports. Stifel Nicolaus increased their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Bernstein Bank increased their price objective on 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. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Morgan Stanley dropped their price objective on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Finally, DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $208.12.

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.