Hemenway Trust Co LLC Has $738,000 Position in International Business Machines Co. (NYSE:IBM)

Hemenway Trust Co LLC lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 5.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,337 shares of the technology company’s stock after selling 205 shares during the quarter. Hemenway Trust Co LLC’s holdings in International Business Machines were worth $738,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of IBM. ESL Trust Services LLC acquired a new stake in International Business Machines during the first quarter worth approximately $28,000. Hazlett Burt & Watson Inc. increased its stake in shares of International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares during the period. Hara Capital LLC acquired a new stake in International Business Machines during the 3rd quarter worth approximately $29,000. Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines in the 2nd quarter valued at $36,000. Finally, Wolff Wiese Magana LLC grew its holdings in International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after buying an additional 60 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of research reports. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a report on Thursday, October 24th. Stifel Nicolaus boosted their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. 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. Bernstein Bank lifted their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Finally, Evercore ISI increased their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $208.12.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

Shares of International Business Machines stock traded down $2.43 during midday trading on Tuesday, hitting $211.14. 154,260 shares of the company traded hands, compared to its average volume of 4,220,946. The stock has a market cap of $195.23 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 4.80 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm’s fifty day moving average price is $218.25 and its 200-day moving average price is $192.68. International Business Machines Co. has a 12 month low of $147.35 and a 12 month high of $237.37.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the prior year, the business earned $2.20 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, sell-side analysts forecast that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be given a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.16%. International Business Machines’s dividend payout ratio is presently 97.23%.

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.