Donaldson Capital Management LLC Sells 363 Shares of International Business Machines Co. (NYSE:IBM)

Donaldson Capital Management LLC reduced its position in International Business Machines Co. (NYSE:IBM) by 3.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,561 shares of the technology company’s stock after selling 363 shares during the quarter. Donaldson Capital Management LLC’s holdings in International Business Machines were worth $2,114,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of IBM. Vanguard Group Inc. grew its position in 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 valued at $16,833,642,000 after acquiring an additional 5,546,855 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of International Business Machines by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after purchasing an additional 330,694 shares in the last quarter. Ameriprise Financial Inc. raised its position in International Business Machines by 6.4% in the 2nd 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 during the period. Dimensional Fund Advisors LP lifted its stake in International Business Machines by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after purchasing an additional 304,390 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted 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.

International Business Machines Stock Performance

Shares of IBM opened at $208.25 on Monday. International Business Machines Co. has a 52 week low of $144.84 and a 52 week high of $237.37. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The stock has a market cap of $192.56 billion, a P/E ratio of 30.31, a P/E/G ratio of 4.64 and a beta of 0.71. The business’s 50 day moving average price is $216.84 and its 200-day moving average price is $191.35.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.20 earnings per share. Equities research analysts anticipate that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.21%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IBM shares. Jefferies Financial Group boosted their target price on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. UBS Group boosted their price objective on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a report on Wednesday, October 2nd. Morgan Stanley lowered their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Finally, BMO Capital Markets raised their target price on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $208.12.

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.