CENTRAL TRUST Co Has $5.31 Million Holdings in International Business Machines Co. (NYSE:IBM)

CENTRAL TRUST Co lowered its stake in shares of International Business Machines Co. (NYSE:IBM) by 4.3% in the third quarter, Holdings Channel.com reports. The firm owned 24,021 shares of the technology company’s stock after selling 1,080 shares during the period. CENTRAL TRUST Co’s holdings in International Business Machines were worth $5,311,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBM. First National Bank of Hutchinson purchased a new position in shares of International Business Machines during the third quarter valued at approximately $226,000. Romano Brothers AND Company boosted its stake in shares of International Business Machines by 3.5% in the 3rd quarter. Romano Brothers AND Company now owns 36,593 shares of the technology company’s stock worth $8,090,000 after buying an additional 1,253 shares during the last quarter. Great Lakes Retirement Inc. grew its holdings in shares of International Business Machines by 4,676.6% in the third quarter. Great Lakes Retirement Inc. now owns 11,034 shares of the technology company’s stock valued at $2,439,000 after acquiring an additional 10,803 shares in the last quarter. Brighton Jones LLC increased its position in shares of International Business Machines by 5.2% during the third quarter. Brighton Jones LLC now owns 18,688 shares of the technology company’s stock valued at $4,132,000 after acquiring an additional 922 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in International Business Machines by 20,324.5% during the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after acquiring an additional 2,702,340 shares during the period. 58.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. BMO Capital Markets raised their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday. Stifel Nicolaus boosted their target price on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Bank of America raised their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada raised their target price on International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average target price of $208.65.

International Business Machines Stock Up 0.2 %

Shares of NYSE:IBM opened at $232.75 on Thursday. The company has a market cap of $213.80 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a one year low of $136.05 and a one year high of $237.37. The firm has a fifty day moving average price of $214.67 and a two-hundred day moving average price of $190.05. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.25 by $0.05. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the previous year, the business earned $2.20 earnings per share. The firm’s revenue was up 1.5% on a year-over-year basis. Analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is currently 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.