International Business Machines Co. (NYSE:IBM) Shares Sold by Cobblestone Capital Advisors LLC NY

Cobblestone Capital Advisors LLC NY lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 6.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,798 shares of the technology company’s stock after selling 393 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in International Business Machines were worth $1,003,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new position in International Business Machines in the 1st quarter worth approximately $26,000. ESL Trust Services LLC purchased a new position in International Business Machines during the first quarter worth approximately $28,000. Creekmur Asset Management LLC purchased a new stake in International Business Machines in the 4th quarter valued at $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in International Business Machines in the 4th quarter valued at $31,000. Finally, Financial Synergies Wealth Advisors Inc. raised its holdings in shares of International Business Machines by 164.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after acquiring an additional 123 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on IBM. The Goldman Sachs Group began coverage on shares of International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 price objective for the company. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. BMO Capital Markets upped their price target on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Stifel Nicolaus raised their price objective on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada upped their target price on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $185.93.

International Business Machines Stock Down 0.9 %

Shares of NYSE IBM traded down $1.85 during mid-day trading on Friday, hitting $200.74. The company had a trading volume of 3,304,491 shares, compared to its average volume of 4,223,954. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $205.95. The company has a market capitalization of $184.40 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 4.50 and a beta of 0.71. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The business’s 50-day simple moving average is $189.52 and its 200 day simple moving average is $182.51.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter last year, the company earned $2.18 EPS. International Business Machines’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, analysts predict that International Business Machines Co. will post 10.09 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Friday, August 9th. International Business Machines’s dividend payout ratio is presently 75.65%.

About International Business Machines

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.