Indiana Trust & Investment Management CO Sells 100 Shares of International Business Machines Co. (NYSE:IBM)

by · The Cerbat Gem

Indiana Trust & Investment Management CO reduced its stake in International Business Machines Co. (NYSE:IBM – Free Report) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,340 shares of the technology company’s stock after selling 100 shares during the quarter. Indiana Trust & Investment Management CO’s holdings in International Business Machines were worth $469,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of IBM. Cantor Fitzgerald Investment Advisor L.P raised its holdings in International Business Machines by 97.6% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 257,335 shares of the technology company’s stock valued at $33,459,000 after acquiring an additional 127,093 shares during the period. Roundview Capital LLC acquired a new position in shares of International Business Machines during the 1st quarter worth approximately $203,000. Sei Investments Co. grew its position in shares of International Business Machines by 35.7% during the 1st quarter. Sei Investments Co. now owns 177,599 shares of the technology company’s stock worth $23,157,000 after purchasing an additional 46,756 shares in the last quarter. Candriam Luxembourg S.C.A. grew its position in shares of International Business Machines by 1.9% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 95,662 shares of the technology company’s stock worth $12,438,000 after purchasing an additional 1,821 shares in the last quarter. Finally, Baird Financial Group Inc. grew its position in shares of International Business Machines by 1.5% during the 1st quarter. Baird Financial Group Inc. now owns 382,232 shares of the technology company’s stock worth $49,698,000 after purchasing an additional 5,506 shares in the last quarter. 56.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IBM. Royal Bank of Canada decreased their target price on shares of International Business Machines from $188.00 to $179.00 and set an “outperform” rating on the stock in a research report on Thursday, October 26th. Wedbush restated a “neutral” rating and set a $140.00 target price on shares of International Business Machines in a research report on Monday, November 13th. Morgan Stanley reduced their price target on shares of International Business Machines from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 17th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Tuesday, November 21st. Finally, BMO Capital Markets increased their price target on shares of International Business Machines from $152.00 to $155.00 and gave the stock a “market perform” rating in a research report on Thursday, October 26th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $150.00.

Check Out Our Latest Report on International Business Machines

International Business Machines Price Performance

NYSE:IBM traded up $0.30 on Friday, hitting $163.21. The company had a trading volume of 1,820,735 shares, compared to its average volume of 4,469,190. The stock has a market capitalization of $149.03 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 4.46 and a beta of 0.77. The company has a current ratio of 0.91, a quick ratio of 0.86 and a debt-to-equity ratio of 2.11. The firm has a 50 day moving average of $149.76 and a two-hundred day moving average of $143.29. International Business Machines Co. has a 52 week low of $120.55 and a 52 week high of $166.34.

International Business Machines (NYSE:IBM – Get Free Report) last issued its quarterly earnings data on Wednesday, October 25th. The technology company reported $2.20 EPS for the quarter, beating the consensus estimate of $2.12 by $0.08. The business had revenue of $14.75 billion during the quarter, compared to the consensus estimate of $14.73 billion. International Business Machines had a net margin of 11.32% and a return on equity of 38.51%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.81 EPS. On average, research analysts anticipate that International Business Machines Co. will post 9.45 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, December 9th. Investors of record on Friday, November 10th were paid a $1.66 dividend. This represents a $6.64 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Thursday, November 9th. International Business Machines’s payout ratio is 88.06%.

About International Business Machines

(Free Report)

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.

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