International Business Machines Corporation $IBM Position Decreased by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. lowered its position in International Business Machines Corporation (NYSE:IBM) by 87.6% during the third quarter, Holdings Channel reports. The institutional investor owned 583 shares of the technology company’s stock after selling 4,117 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in International Business Machines were worth $128,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. First Citizens Bank & Trust Co. boosted its holdings in International Business Machines by 40.3% in the third quarter. First Citizens Bank & Trust Co. now owns 30,151 shares of the technology company’s stock worth $6,631,000 after acquiring an additional 8,658 shares in the last quarter. Focus Financial Network Inc. increased its holdings in shares of International Business Machines by 1.2% during the third quarter. Focus Financial Network Inc. now owns 6,939 shares of the technology company’s stock valued at $1,526,000 after acquiring an additional 85 shares in the last quarter. Define Financial LLC raised its position in shares of International Business Machines by 12.3% in the 3rd quarter. Define Financial LLC now owns 1,122 shares of the technology company’s stock valued at $247,000 after purchasing an additional 123 shares during the last quarter. Signal Advisors Wealth LLC raised its position in shares of International Business Machines by 4.7% in the 3rd quarter. Signal Advisors Wealth LLC now owns 9,896 shares of the technology company’s stock valued at $2,176,000 after purchasing an additional 446 shares during the last quarter. Finally, Krilogy Financial LLC raised its position in shares of International Business Machines by 27.1% in the 3rd quarter. Krilogy Financial LLC now owns 9,856 shares of the technology company’s stock valued at $2,238,000 after purchasing an additional 2,104 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Oppenheimer downgraded shares of International Business Machines from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 15th. The Goldman Sachs Group set a $270.00 price objective on shares of International Business Machines and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Citic Securities boosted their price objective on shares of International Business Machines from $294.00 to $297.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Piper Sandler raised shares of International Business Machines to an “overweight” rating in a report on Tuesday, June 23rd. Finally, Jefferies Financial Group cut their target price on International Business Machines from $320.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Eighteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $252.96.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $228.40 on Thursday. International Business Machines Corporation has a 1 year low of $199.19 and a 1 year high of $332.46. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.79. The company has a market capitalization of $215.18 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 2.20 and a beta of 0.73. The company’s fifty day moving average price is $232.07 and its 200 day moving average price is $243.68.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, meeting the consensus estimate of $2.93. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%. The firm had revenue of $17.16 billion during the quarter, compared to analyst estimates of $17.46 billion. During the same quarter in the previous year, the business earned $2.80 EPS. International Business Machines’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, research analysts predict that International Business Machines Corporation will post 12.33 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 10th were given a $1.69 dividend. The ex-dividend date was Monday, August 10th. This represents a $6.76 annualized dividend and a dividend yield of 3.0%. International Business Machines’s dividend payout ratio (DPR) is 59.98%.

Insider Buying and Selling

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the completion of the sale, the senior vice president directly owned 47,800 shares in the company, valued at approximately $11,009,296. The trade was a 34.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.27% of the company’s stock.

More International Business Machines News

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: Siemens nanostack collaboration supports IBM’s semiconductor strategy. IBM and Siemens announced research to advance IBM’s nanostack transistor architecture, combining IBM’s device expertise with Siemens’ electronic-design and manufacturing software capabilities. The effort could strengthen IBM’s longer-term semiconductor innovation, although it is unlikely to materially affect near-term earnings. IBM and Siemens Collaborate on Research to Advance Nanostack Architecture
• Positive Sentiment: RBC reaffirmed an Outperform rating and a $270 price target. The target implies meaningful upside from recent trading levels and signals that the bank views IBM’s valuation and growth prospects favorably despite recent weakness.
• Positive Sentiment: IBM remains active in quantum computing. IBM advanced to Stage C of DARPA’s Quantum Benchmarking Initiative, reinforcing its position in a potentially important long-term technology market. Revenue benefits remain uncertain and likely distant. DARPA Just Revealed the 2 Best Quantum Computing Stocks to Buy Now

International Business Machines Profile

International Business Machines Corporation (NYSE:IBM), commonly known as IBM, is a global technology company that provides hybrid cloud, artificial intelligence, software, consulting and infrastructure solutions. Its offerings help businesses and government organizations manage data, modernize applications, automate processes and improve cybersecurity.

IBM’s portfolio includes the Red Hat hybrid cloud platform, the watsonx suite of artificial intelligence and data tools, consulting services, and enterprise software for areas such as automation, application management, security and asset management.