Appleton Partners Inc. MA Sells 93 Shares of International Business Machines Co. (NYSE:IBM)

Appleton Partners Inc. MA lessened its holdings in International Business Machines Co. (NYSE:IBM) by 2.1% in the second quarter, Holdings Channel reports. The institutional investor owned 4,369 shares of the technology company’s stock after selling 93 shares during the period. Appleton Partners Inc. MA’s holdings in International Business Machines were worth $756,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in IBM. Vanguard Group Inc. lifted its position in shares of International Business Machines by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after acquiring an additional 5,546,855 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in International Business Machines by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock worth $1,048,631,000 after acquiring an additional 61,028 shares during the last quarter. Norges Bank bought a new stake in International Business Machines in the 4th quarter worth about $1,019,009,000. Dimensional Fund Advisors LP increased its position in shares of International Business Machines by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,500,184 shares of the technology company’s stock valued at $736,015,000 after acquiring an additional 97,482 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in 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 valued at $671,352,000 after buying an additional 2,118,165 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Morgan Stanley lowered their price objective on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. The Goldman Sachs Group assumed 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 on the stock. BNP Paribas started coverage on shares of International Business Machines in a research report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 price target for the company. Jefferies Financial Group raised their target price on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Finally, BMO Capital Markets increased their target price on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $184.93.

International Business Machines Stock Performance

Shares of NYSE IBM traded down $0.54 during midday trading on Friday, reaching $189.12. The company had a trading volume of 4,548,824 shares, compared to its average volume of 3,874,536. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The business’s 50-day simple moving average is $176.64 and its 200 day simple moving average is $180.17. The stock has a market cap of $174.21 billion, a P/E ratio of 21.42, a P/E/G ratio of 4.24 and a beta of 0.71. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $199.18.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $2.18 EPS. On average, analysts forecast that International Business Machines Co. will post 10.06 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

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.