International Business Machines Co. (NYSE:IBM) Shares Sold by Rockland Trust Co.

Rockland Trust Co. cut its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 22.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 12,098 shares of the technology company's stock after selling 3,460 shares during the period. Rockland Trust Co.'s holdings in International Business Machines were worth $2,675,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Duncan Williams Asset Management LLC purchased a new position in shares of International Business Machines in the third quarter valued at approximately $234,000. CJM Wealth Advisers Ltd. lifted its holdings in International Business Machines by 6.1% in the 3rd quarter. CJM Wealth Advisers Ltd. now owns 4,423 shares of the technology company's stock valued at $978,000 after purchasing an additional 256 shares in the last quarter. Apella Capital LLC boosted its stake in International Business Machines by 16.1% during the 3rd quarter. Apella Capital LLC now owns 4,799 shares of the technology company's stock worth $1,054,000 after purchasing an additional 667 shares during the last quarter. Curbstone Financial Management Corp grew its holdings in shares of International Business Machines by 11.4% during the third quarter. Curbstone Financial Management Corp now owns 3,090 shares of the technology company's stock worth $683,000 after buying an additional 316 shares in the last quarter. Finally, Czech National Bank raised its position in shares of International Business Machines by 7.2% in the third quarter. Czech National Bank now owns 187,647 shares of the technology company's stock valued at $41,485,000 after buying an additional 12,599 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. The Goldman Sachs Group upped their price objective 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. Jefferies Financial Group increased their price target on International Business Machines from $190.00 to $200.00 and gave the company a "hold" rating in a report on Thursday, July 25th. DZ Bank downgraded International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 price objective on the stock. in a research report on Wednesday. BMO Capital Markets upped their target price on International Business Machines from $190.00 to $210.00 and gave the company a "market perform" rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada lifted their price target on International Business Machines from $200.00 to $211.00 and gave the stock an "outperform" rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $194.35.

International Business Machines Trading Up 1.5 %

Shares of IBM traded up $3.28 during midday trading on Friday, hitting $226.00. 3,543,060 shares of the stock were exchanged, compared to its average volume of 4,222,131. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $226.08. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The stock has a fifty day simple moving average of $203.61 and a 200 day simple moving average of $186.27. The firm has a market cap of $207.60 billion, a P/E ratio of 25.59, a P/E/G ratio of 4.90 and a beta of 0.70.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.27. The company had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. International Business Machines's revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.18 EPS. On average, research analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 2.96%. International Business Machines's dividend payout ratio is presently 75.65%.

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.