Montecito Bank & Trust Makes New Investment in International Business Machines Corporation $IBM

Montecito Bank & Trust acquired a new stake in International Business Machines Corporation (NYSE:IBM) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 9,990 shares of the technology company’s stock, valued at approximately $2,819,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. New Covenant Trust Company N.A. increased its position in shares of International Business Machines by 6.1% during the third quarter. New Covenant Trust Company N.A. now owns 872 shares of the technology company’s stock valued at $246,000 after acquiring an additional 50 shares during the last quarter. Acropolis Investment Management LLC grew its stake in International Business Machines by 13.4% in the 3rd quarter. Acropolis Investment Management LLC now owns 2,491 shares of the technology company’s stock valued at $734,000 after purchasing an additional 294 shares during the period. Lbmc Investment Advisors LLC increased its position in shares of International Business Machines by 15.8% during the 3rd quarter. Lbmc Investment Advisors LLC now owns 6,178 shares of the technology company’s stock valued at $1,743,000 after purchasing an additional 844 shares during the last quarter. Silverberg Bernstein Capital Management LLC raised its stake in shares of International Business Machines by 4.2% during the 3rd quarter. Silverberg Bernstein Capital Management LLC now owns 15,050 shares of the technology company’s stock worth $4,247,000 after purchasing an additional 600 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of International Business Machines by 144.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 663,011 shares of the technology company’s stock worth $187,075,000 after buying an additional 391,466 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 0.0%

International Business Machines stock opened at $303.32 on Thursday. The firm has a 50 day simple moving average of $300.33 and a 200 day simple moving average of $279.16. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 1.97. International Business Machines Corporation has a 1-year low of $214.50 and a 1-year high of $324.90. The firm has a market capitalization of $283.52 billion, a price-to-earnings ratio of 36.28, a P/E/G ratio of 3.02 and a beta of 0.69.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.20. The firm had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.10 billion. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the company earned $2.30 earnings per share. On average, analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Monday, November 10th. International Business Machines’s payout ratio is presently 80.38%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Sanford C. Bernstein restated a “market perform” rating on shares of International Business Machines in a report on Wednesday, December 10th. UBS Group restated a “sell” rating on shares of International Business Machines in a research note on Tuesday, December 9th. Jefferies Financial Group lifted their price target on shares of International Business Machines from $280.00 to $305.00 and gave the stock a “hold” rating in a report on Tuesday, October 21st. BMO Capital Markets increased their price objective on International Business Machines from $300.00 to $305.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings upgraded International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $293.38.

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.