Harbour Trust & Investment Management Co Has $678,000 Stock Position in International Business Machines Co. (NYSE:IBM)

by · The Cerbat Gem

Harbour Trust & Investment Management Co lowered its position in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 7.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,067 shares of the technology company’s stock after selling 257 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in International Business Machines were worth $678,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new stake in International Business Machines during the 1st quarter worth about $26,000. ESL Trust Services LLC bought a new position in shares of International Business Machines in the 1st quarter valued at about $28,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of International Business Machines in the 2nd quarter valued at about $36,000. Wolff Wiese Magana LLC boosted its stake in shares of International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after purchasing an additional 60 shares during the last quarter. Finally, Briaud Financial Planning Inc boosted its stake in shares of International Business Machines by 54.3% in the 2nd quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock valued at $49,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

NYSE IBM opened at $218.28 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 12-month low of $136.33 and a 12-month high of $237.37. The company has a market capitalization of $200.51 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. The firm’s 50 day moving average is $214.67 and its 200-day moving average is $190.05.

International Business Machines (NYSE:IBM – Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.05. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company earned $2.20 earnings per share. Equities research analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.06%. International Business Machines’s payout ratio is 75.65%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Bernstein Bank raised their target price on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group raised their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Bank of America raised their target price on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI lifted their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Finally, Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus price target of $208.12.

Read Our Latest Research Report on IBM

International Business Machines Company Profile

(Free Report)

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.

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