Ferguson Wellman Capital Management Inc. Sells 16,484 Shares of International Business Machines Co. (NYSE:IBM)

Ferguson Wellman Capital Management Inc. lessened its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 11.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 128,720 shares of the technology company's stock after selling 16,484 shares during the quarter. Ferguson Wellman Capital Management Inc.'s holdings in International Business Machines were worth $28,457,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Ellenbecker Investment Group raised its stake in shares of International Business Machines by 2.3% in the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company's stock worth $453,000 after buying an additional 46 shares in the last quarter. Armbruster Capital Management Inc. raised its stake in shares of International Business Machines by 2.3% in the 2nd quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company's stock worth $432,000 after buying an additional 56 shares in the last quarter. Aspect Partners LLC raised its stake in shares of International Business Machines by 11.2% in the 3rd quarter. Aspect Partners LLC now owns 554 shares of the technology company's stock worth $122,000 after buying an additional 56 shares in the last quarter. CVA Family Office LLC raised its stake in shares of International Business Machines by 3.3% in the 2nd quarter. CVA Family Office LLC now owns 1,796 shares of the technology company's stock worth $311,000 after buying an additional 57 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC raised its stake in shares of International Business Machines by 5.1% in the 2nd quarter. Mill Creek Capital Advisors LLC now owns 1,165 shares of the technology company's stock worth $201,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of research reports. Stifel Nicolaus boosted their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a "buy" rating in a research note on Wednesday. BMO Capital Markets boosted their price objective on International Business Machines from $190.00 to $210.00 and gave the stock a "market perform" rating in a research note on Thursday, July 25th. Bank of America boosted their target price on International Business Machines from $209.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Morgan Stanley boosted their target price on International Business Machines from $182.00 to $217.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, Bernstein Bank boosted their target price on International Business Machines from $185.00 to $210.00 and gave the stock a "market perform" rating in a research report on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, International Business Machines has an average rating of "Hold" and a consensus target price of $203.06.

International Business Machines Stock Down 0.3 %

NYSE IBM traded down $0.68 on Friday, reaching $232.20. The stock had a trading volume of 4,715,688 shares, compared to its average volume of 4,195,661. The business has a 50 day moving average price of $212.19 and a 200 day moving average price of $189.15. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $237.37. The company has a market capitalization of $213.30 billion, a price-to-earnings ratio of 26.30, a P/E/G ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating analysts' consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the previous year, the company posted $2.18 earnings per share. The business's quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts forecast that International Business Machines Co. will post 10.1 EPS 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. Shareholders 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 dividend on an annualized basis and a yield of 2.88%. International Business Machines's dividend payout ratio (DPR) is currently 75.65%.

International Business Machines Company 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.