Jacobs & Co. CA Cuts Stake in International Business Machines Co. (NYSE:IBM)

Jacobs & Co. CA lessened its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,014 shares of the technology company's stock after selling 2,838 shares during the quarter. International Business Machines comprises 1.6% of Jacobs & Co. CA's investment portfolio, making the stock its 17th largest position. Jacobs & Co. CA's holdings in International Business Machines were worth $15,699,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. FPC Investment Advisory Inc. purchased a new stake in International Business Machines during the first quarter valued at about $26,000. ESL Trust Services LLC purchased a new position in shares of International Business Machines during the 1st quarter valued at about $28,000. Creekmur Asset Management LLC purchased a new stake in International Business Machines in the fourth quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. bought a new position in International Business Machines during the fourth quarter valued at approximately $31,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new position in International Business Machines during the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on IBM shares. Hsbc Global Res raised shares of International Business Machines to a "moderate sell" rating in a research note on Friday, July 26th. Evercore ISI raised their price target on International Business Machines from $215.00 to $240.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 11th. BMO Capital Markets boosted their price objective on International Business Machines from $190.00 to $210.00 and gave the company a "market perform" rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their target price on shares of International Business Machines from $200.00 to $211.00 and gave the stock an "outperform" rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus upped their price target on shares of International Business Machines from $190.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, July 25th. Three 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. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of "Hold" and a consensus price target of $194.35.

International Business Machines Stock Up 1.4 %

IBM traded up $2.99 during trading on Thursday, reaching $222.72. The stock had a trading volume of 3,670,187 shares, compared to its average volume of 4,225,015. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The company has a market capitalization of $204.59 billion, a price-to-earnings ratio of 25.10, a P/E/G ratio of 4.90 and a beta of 0.70. The stock's 50 day moving average is $202.31 and its two-hundred day moving average is $185.78. International Business Machines Co. has a one year low of $135.87 and a one year high of $224.15.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.27. The company had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. International Business Machines's quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $2.18 EPS. As a group, analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.00%. International Business Machines's payout ratio is currently 75.65%.

About International Business Machines

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.