Israel Discount Bank of New York Decreases Stock Holdings in International Business Machines Co. (NYSE:IBM)

Israel Discount Bank of New York decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 2.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,148 shares of the technology company’s stock after selling 86 shares during the period. Israel Discount Bank of New York’s holdings in International Business Machines were worth $678,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Naples Money Management LLC acquired a new stake in shares of International Business Machines in the 4th quarter worth $28,000. Briaud Financial Planning Inc acquired a new stake in shares of International Business Machines during the 3rd quarter worth about $31,000. Stone House Investment Management LLC increased its position in shares of International Business Machines by 971.4% during the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 204 shares during the last quarter. Financial Gravity Asset Management Inc. increased its position in shares of International Business Machines by 67.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 91 shares during the last quarter. Finally, Cordant Inc. increased its position in shares of International Business Machines by 753.3% during the 4th quarter. Cordant Inc. now owns 256 shares of the technology company’s stock worth $42,000 after purchasing an additional 226 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on IBM. Societe Generale reissued a “sell” rating and set a $143.00 price objective on shares of International Business Machines in a research report on Friday, January 5th. BMO Capital Markets cut their price objective on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday. JPMorgan Chase & Co. lowered their target price on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday. Jefferies Financial Group lowered their target price on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Finally, Sanford C. Bernstein raised their target price on International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $184.08.

International Business Machines Stock Down 0.4 %

Shares of IBM traded down $0.60 during midday trading on Monday, hitting $166.53. The company had a trading volume of 2,739,366 shares, compared to its average volume of 4,978,494. The company’s 50-day simple moving average is $187.60 and its 200-day simple moving average is $170.53. The firm has a market capitalization of $152.67 billion, a P/E ratio of 18.86, a P/E/G ratio of 4.08 and a beta of 0.70. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $199.18. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13.

International Business Machines (NYSE:IBM) last posted its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.09. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.36 earnings per share. As a group, sell-side analysts expect that International Business Machines Co. will post 9.99 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were paid a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s payout ratio is 75.20%.

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.