Sky Investment Group LLC Sells 220 Shares of International Business Machines Co. (NYSE:IBM)

Sky Investment Group LLC decreased its holdings in International Business Machines Co. (NYSE:IBM) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,734 shares of the technology company’s stock after selling 220 shares during the quarter. Sky Investment Group LLC’s holdings in International Business Machines were worth $3,700,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after buying an additional 5,546,855 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of International Business Machines by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after purchasing an additional 330,694 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after purchasing an additional 444,698 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in International Business Machines by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock valued at $829,431,000 after buying an additional 304,390 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of 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 buying an additional 2,118,165 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 0.2 %

NYSE:IBM traded down $0.39 during mid-day trading on Tuesday, hitting $231.36. The company had a trading volume of 644,481 shares, compared to its average volume of 4,171,092. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $237.37. The firm has a market cap of $212.53 billion, a P/E ratio of 26.18, a P/E/G ratio of 5.21 and a beta of 0.70. The business’s fifty day moving average is $213.04 and its two-hundred day moving average is $189.45.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. International Business Machines’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the company posted $2.18 EPS. As a group, research analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Stifel Nicolaus upped their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Evercore ISI increased their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. UBS Group boosted their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Finally, The Goldman Sachs Group increased their price target on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $205.71.

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.