Benson Investment Management Company Inc. Cuts Stock Holdings in International Business Machines Co. (NYSE:IBM)

Benson Investment Management Company Inc. decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 10.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 32,242 shares of the technology company’s stock after selling 3,758 shares during the period. International Business Machines makes up about 2.8% of Benson Investment Management Company Inc.’s holdings, making the stock its 7th biggest holding. Benson Investment Management Company Inc.’s holdings in International Business Machines were worth $7,128,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of IBM. Arden Trust Co boosted its position in International Business Machines by 2.8% during the first quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after buying an additional 54 shares during the period. Armbruster Capital Management Inc. grew its position in International Business Machines by 2.3% during the 2nd quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock worth $432,000 after acquiring an additional 56 shares during the last quarter. CVA Family Office LLC increased its stake in International Business Machines by 3.3% in the 2nd quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock worth $311,000 after purchasing an additional 57 shares during the period. Mill Creek Capital Advisors LLC lifted its position in International Business Machines by 5.1% in the second quarter. Mill Creek Capital Advisors LLC now owns 1,165 shares of the technology company’s stock valued at $201,000 after purchasing an additional 57 shares during the last quarter. Finally, Peddock Capital Advisors LLC lifted its position in International Business Machines by 0.6% in the second quarter. Peddock Capital Advisors LLC now owns 10,040 shares of the technology company’s stock valued at $1,736,000 after purchasing an additional 58 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $235.26 on Tuesday. The business has a fifty day simple moving average of $208.71 and a two-hundred day simple moving average of $187.93. The firm has a market capitalization of $216.11 billion, a P/E ratio of 26.64, a P/E/G ratio of 5.21 and a beta of 0.70. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $236.12.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data 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 business had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. International Business Machines’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.18 earnings per share. On average, equities analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 2.84%. International Business Machines’s payout ratio is currently 75.65%.

Wall Street Analyst Weigh In

Several brokerages recently commented on IBM. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Evercore ISI boosted their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Stifel Nicolaus increased their target price on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Bank of America boosted their price target on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, 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. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $198.41.

International Business Machines Company 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.