Amalgamated Bank Decreases Stake in International Business Machines Co. (NYSE:IBM)

Amalgamated Bank reduced its stake in International Business Machines Co. (NYSE:IBM) by 0.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 184,304 shares of the technology company’s stock after selling 1,078 shares during the period. Amalgamated Bank’s holdings in International Business Machines were worth $40,746,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of IBM. FPC Investment Advisory Inc. bought a new stake in shares of International Business Machines in the 1st quarter worth approximately $26,000. ESL Trust Services LLC bought a new stake in shares of International Business Machines in the 1st quarter worth approximately $28,000. Hazlett Burt & Watson Inc. grew its position in shares of International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after buying an additional 116 shares during the last quarter. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Business Machines in the 2nd quarter worth approximately $36,000. Finally, Wolff Wiese Magana LLC grew its position in shares of International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after buying an additional 60 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Down 0.9 %

International Business Machines stock opened at $206.32 on Tuesday. The stock has a market cap of $190.77 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 4.68 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. International Business Machines Co. has a one year low of $145.28 and a one year high of $237.37. The stock has a fifty day moving average of $217.01 and a 200 day moving average of $191.53.

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. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.20 earnings per share. As a group, sell-side analysts predict that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IBM shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. Morgan Stanley dropped their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Stifel Nicolaus lifted their price target on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets lifted their price target on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Finally, DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus price target of $208.12.

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.