Cutter & CO Brokerage Inc. Has $756,000 Stock Holdings in International Business Machines Co. (NYSE:IBM)

Cutter & CO Brokerage Inc. reduced its stake in International Business Machines Co. (NYSE:IBM) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,371 shares of the technology company’s stock after selling 55 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in International Business Machines were worth $756,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Banque Cantonale Vaudoise increased its position in shares of International Business Machines by 77.8% during the second quarter. Banque Cantonale Vaudoise now owns 81,833 shares of the technology company’s stock worth $14,153,000 after buying an additional 35,810 shares during the period. Sage Mountain Advisors LLC boosted its position in International Business Machines by 3.0% during the second quarter. Sage Mountain Advisors LLC now owns 4,814 shares of the technology company’s stock valued at $833,000 after acquiring an additional 138 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in International Business Machines by 0.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 696,138 shares of the technology company’s stock worth $120,397,000 after acquiring an additional 2,640 shares during the period. IFG Advisory LLC bought a new position in shares of International Business Machines in the 2nd quarter worth about $651,000. Finally, Legacy Advisors LLC lifted its stake in shares of 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 purchasing an additional 90 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Up 1.6 %

IBM traded up $3.23 during mid-day trading on Friday, reaching $202.13. 4,750,999 shares of the stock were exchanged, compared to its average volume of 2,830,863. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $202.17. The stock has a market capitalization of $186.19 billion, a PE ratio of 22.89, a price-to-earnings-growth ratio of 4.50 and a beta of 0.71. The company has a 50 day moving average price of $186.57 and a two-hundred day moving average price of $181.93. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.16 by $0.27. The firm 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 company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.18 EPS. As a group, research analysts anticipate that International Business Machines Co. will post 10.09 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders 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 dividend yield of 3.30%. The ex-dividend date of this dividend is Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IBM. The Goldman Sachs Group began coverage on International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price for the company. Stifel Nicolaus boosted their target price on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their price target on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Finally, Jefferies Financial Group boosted their target price on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $184.93.

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.