International Business Machines Co. (NYSE:IBM) Shares Sold by Charles Schwab Trust Co

Charles Schwab Trust Co lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 84.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,083 shares of the technology company’s stock after selling 11,010 shares during the period. Charles Schwab Trust Co’s holdings in International Business Machines were worth $461,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after buying an additional 5,546,855 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in International Business Machines by 151.6% in 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 acquiring an additional 2,118,165 shares during the period. Thrivent Financial for Lutherans boosted its stake in International Business Machines by 306.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after purchasing an additional 1,056,759 shares in the last quarter. Strategic Financial Concepts LLC boosted its stake in International Business Machines by 12,282.2% in the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock worth $817,000 after purchasing an additional 468,567 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in International Business Machines by 6.4% in the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after purchasing an additional 444,698 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Bank of America increased their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group increased their price objective on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Bernstein Bank raised their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Finally, BMO Capital Markets boosted their price target 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 research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines has an average rating of “Hold” and an average price target of $198.41.

International Business Machines Price Performance

NYSE:IBM traded down $2.20 during trading hours on Friday, hitting $230.82. The company’s stock had a trading volume of 1,339,740 shares, compared to its average volume of 4,197,558. The company has a market capitalization of $212.62 billion, a P/E ratio of 25.52, a PEG ratio of 5.21 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $235.83. The stock has a fifty day simple moving average of $206.79 and a 200-day simple moving average of $187.34.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) 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 business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.18 EPS. On average, analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is currently 73.65%.

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.