International Business Machines Co. (NYSE:IBM) Stake Reduced by Field & Main Bank

Field & Main Bank cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,399 shares of the technology company’s stock after selling 275 shares during the period. International Business Machines makes up about 1.1% of Field & Main Bank’s investment portfolio, making the stock its 23rd largest holding. Field & Main Bank’s holdings in International Business Machines were worth $2,682,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Naples Money Management LLC acquired a new position in International Business Machines during the fourth quarter worth $28,000. Briaud Financial Planning Inc bought a new position in International Business Machines during the 3rd quarter valued at about $31,000. Stone House Investment Management LLC grew its stake in International Business Machines by 971.4% during the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after buying an additional 204 shares during the last quarter. Financial Gravity Asset Management Inc. boosted its holdings in shares of International Business Machines by 67.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after acquiring an additional 91 shares in the last quarter. Finally, Cordant Inc. grew its position in International Business Machines by 753.3% during the 4th quarter. Cordant Inc. now owns 256 shares of the technology company’s stock worth $42,000 after acquiring an additional 226 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on IBM shares. Societe Generale reissued a “sell” rating and issued a $143.00 price objective on shares of International Business Machines in a research note on Friday, January 5th. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Sanford C. Bernstein raised their target price on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. Evercore ISI upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $165.00 to $200.00 in a report on Friday, January 19th. Finally, UBS Group increased their price target on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research note on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $184.08.

International Business Machines Stock Performance

NYSE:IBM traded up $0.38 during trading on Monday, reaching $167.51. The company’s stock had a trading volume of 5,260,090 shares, compared to its average volume of 5,011,214. International Business Machines Co. has a 12 month low of $120.55 and a 12 month high of $199.18. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. The firm has a market cap of $153.56 billion, a price-to-earnings ratio of 18.97, a price-to-earnings-growth ratio of 4.08 and a beta of 0.70. The firm has a 50 day moving average of $187.19 and a 200-day moving average of $170.72.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. During the same period in the previous year, the firm earned $1.36 EPS. The business’s quarterly revenue was up 1.5% on a year-over-year basis. Research analysts expect that International Business Machines Co. will post 9.99 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were given a dividend of $1.66 per share. The ex-dividend date was Thursday, February 8th. This represents a $6.64 dividend on an annualized basis and a yield of 3.96%. International Business Machines’s dividend payout ratio (DPR) is currently 75.20%.

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.