Citizens & Northern Corp Lowers Stake in International Business Machines Co. (NYSE:IBM)

Citizens & Northern Corp cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 3.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,261 shares of the technology company’s stock after selling 424 shares during the period. International Business Machines makes up about 0.7% of Citizens & Northern Corp’s portfolio, making the stock its 27th largest holding. Citizens & Northern Corp’s holdings in International Business Machines were worth $2,293,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of IBM. Legacy Advisors LLC grew its stake in International Business Machines by 2.4% in the 2nd quarter. Legacy Advisors LLC now owns 3,891 shares of the technology company’s stock valued at $673,000 after acquiring an additional 90 shares during the period. Rothschild Investment LLC acquired a new stake in shares of International Business Machines in the second quarter valued at about $3,720,000. United Capital Management of KS Inc. increased its stake in shares of International Business Machines by 0.9% during the second quarter. United Capital Management of KS Inc. now owns 16,045 shares of the technology company’s stock worth $2,775,000 after purchasing an additional 146 shares in the last quarter. Sabal Trust CO raised its position in shares of International Business Machines by 2,350.8% during the 2nd quarter. Sabal Trust CO now owns 67,446 shares of the technology company’s stock worth $11,665,000 after purchasing an additional 64,694 shares during the last quarter. Finally, Americana Partners LLC lifted its stake in International Business Machines by 11.1% in the 2nd quarter. Americana Partners LLC now owns 68,338 shares of the technology company’s stock valued at $11,819,000 after buying an additional 6,836 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 1.6 %

IBM stock opened at $202.13 on Friday. The firm has a market cap of $186.19 billion, a PE ratio of 22.89, a PEG ratio of 4.50 and a beta of 0.71. International Business Machines Co. has a one year low of $135.87 and a one year high of $202.17. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The firm’s 50 day moving average price is $186.57 and its 200-day moving average price is $181.93.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.18 EPS. On average, equities research analysts anticipate that International Business Machines Co. will post 10.09 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Friday, August 9th. International Business Machines’s dividend payout ratio is presently 75.65%.

Wall Street Analysts Forecast Growth

Several research firms have commented on IBM. BMO Capital Markets increased their target price on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Royal Bank of Canada raised their price objective on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Jefferies Financial Group upped their target price on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $184.93.

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.