Commerce Bank Reduces Position in International Business Machines Co. (NYSE:IBM)

Commerce Bank decreased its stake in shares of International Business Machines Co. (NYSE:IBM) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 196,239 shares of the technology company’s stock after selling 5,660 shares during the period. Commerce Bank’s holdings in International Business Machines were worth $32,095,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. WealthPlan Investment Management LLC grew its position in shares of International Business Machines by 220,760.0% in the third quarter. WealthPlan Investment Management LLC now owns 44,172 shares of the technology company’s stock valued at $6,197,000 after purchasing an additional 44,152 shares during the period. Corient Private Wealth LLC grew its position in shares of International Business Machines by 4.0% in the third quarter. Corient Private Wealth LLC now owns 375,461 shares of the technology company’s stock valued at $52,680,000 after purchasing an additional 14,271 shares during the period. NBC Securities Inc. purchased a new stake in shares of International Business Machines in the third quarter valued at $1,737,000. Pinnacle Financial Partners Inc grew its position in shares of International Business Machines by 5.7% in the third quarter. Pinnacle Financial Partners Inc now owns 79,714 shares of the technology company’s stock valued at $11,184,000 after purchasing an additional 4,286 shares during the period. Finally, Empower Advisory Group LLC grew its position in shares of International Business Machines by 2.5% in the third quarter. Empower Advisory Group LLC now owns 12,191 shares of the technology company’s stock valued at $1,710,000 after purchasing an additional 297 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 0.1 %

Shares of IBM traded up $0.21 during midday trading on Friday, reaching $170.88. 1,030,213 shares of the company were exchanged, compared to its average volume of 4,735,971. The stock has a 50-day moving average price of $179.53 and a 200-day moving average price of $173.71. The company has a market cap of $156.97 billion, a price-to-earnings ratio of 19.30, a P/E/G ratio of 4.28 and a beta of 0.74. International Business Machines Co. has a 1-year low of $125.01 and a 1-year high of $199.18. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last announced its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (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 analyst estimates of $14.53 billion. During the same period in the previous year, the company earned $1.36 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts expect that International Business Machines Co. will post 9.91 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a $1.67 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend is Thursday, May 9th. International Business Machines’s payout ratio is currently 75.65%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on IBM shares. Wedbush lifted their price objective on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. reduced their target price on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. UBS Group lifted their target price on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a report on Monday, April 22nd. BMO Capital Markets reduced their target price on International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $190.00 target price on shares of International Business Machines in a report on Thursday, May 16th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $181.29.

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.