Independence Bank of Kentucky Acquires 1,972 Shares of International Business Machines Co. (NYSE:IBM)

Independence Bank of Kentucky boosted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 55.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,530 shares of the technology company’s stock after acquiring an additional 1,972 shares during the quarter. Independence Bank of Kentucky’s holdings in International Business Machines were worth $1,223,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Arden Trust Co raised its position in shares of International Business Machines by 2.8% in the first quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after purchasing an additional 54 shares during the period. Armbruster Capital Management Inc. raised its position in shares of International Business Machines by 2.3% in the second quarter. Armbruster Capital Management Inc. now owns 2,500 shares of the technology company’s stock valued at $432,000 after purchasing an additional 56 shares during the period. CVA Family Office LLC raised its position in shares of International Business Machines by 3.3% in the second quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock valued at $311,000 after purchasing an additional 57 shares during the period. Mill Creek Capital Advisors LLC raised its position in shares of International Business Machines by 5.1% in the second quarter. Mill Creek Capital Advisors LLC now owns 1,165 shares of the technology company’s stock valued at $201,000 after purchasing an additional 57 shares during the period. Finally, Chicago Partners Investment Group LLC raised its position in shares of International Business Machines by 0.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after purchasing an additional 58 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 0.5 %

Shares of International Business Machines stock traded down $1.27 during midday trading on Friday, reaching $231.75. The company had a trading volume of 439,939 shares, compared to its average volume of 4,192,135. The stock has a fifty day moving average price of $206.79 and a 200 day moving average price of $187.34. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The firm has a market cap of $213.48 billion, a PE ratio of 25.69, a P/E/G ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $235.83.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping 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 company had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period in the previous year, the firm earned $2.18 earnings per share. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is 73.65%.

Analyst Ratings Changes

IBM has been the topic of several research analyst reports. Bernstein Bank raised their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Evercore ISI raised their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research note on Wednesday, October 2nd. Stifel Nicolaus raised their price objective on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group raised their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, International Business Machines has an average rating of “Hold” and a consensus price target of $198.41.

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.