Charles Schwab Trust Co Has $461,000 Position in International Business Machines Co. (NYSE:IBM)

Charles Schwab Trust Co decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 84.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,083 shares of the technology company’s stock after selling 11,010 shares during the period. Charles Schwab Trust Co’s holdings in International Business Machines were worth $461,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Castle Rock Wealth Management LLC increased its stake in shares of International Business Machines by 134.6% in the 3rd quarter. Castle Rock Wealth Management LLC now owns 12,934 shares of the technology company’s stock valued at $2,931,000 after acquiring an additional 7,421 shares in the last quarter. LVW Advisors LLC grew its stake in shares of International Business Machines by 25.1% in the 3rd quarter. LVW Advisors LLC now owns 2,176 shares of the technology company’s stock valued at $481,000 after buying an additional 437 shares during the period. New England Professional Planning Group Inc. bought a new stake in International Business Machines in the 3rd quarter valued at about $250,000. Independence Bank of Kentucky raised its stake in International Business Machines by 55.4% during the 3rd quarter. Independence Bank of Kentucky now owns 5,530 shares of the technology company’s stock worth $1,223,000 after buying an additional 1,972 shares during the period. Finally, Worth Asset Management LLC boosted its holdings in International Business Machines by 516.1% in the third quarter. Worth Asset Management LLC now owns 8,946 shares of the technology company’s stock worth $1,978,000 after acquiring an additional 7,494 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the subject of several recent research reports. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Bank of America raised their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday. The Goldman Sachs Group increased their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Evercore ISI lifted their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Finally, Bernstein Bank upped their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus target price of $198.41.

International Business Machines Trading Down 0.9 %

Shares of IBM traded down $2.20 during mid-day trading on Friday, reaching $230.82. The company’s stock had a trading volume of 1,339,740 shares, compared to its average volume of 4,197,558. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $235.83. The stock has a market cap of $212.62 billion, a PE ratio of 25.52, a P/E/G ratio of 5.21 and a beta of 0.70. The company’s fifty day moving average price is $206.79 and its two-hundred day moving average price is $187.34. 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 (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the previous year, the firm posted $2.18 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, analysts predict 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 paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Friday, August 9th. International Business Machines’s payout ratio is 73.65%.

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.