US Bancorp DE Has $124.99 Million Stock Position in International Business Machines Co. (NYSE:IBM)

US Bancorp DE lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 3.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 565,357 shares of the technology company’s stock after selling 18,300 shares during the quarter. US Bancorp DE owned 0.06% of International Business Machines worth $124,989,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Kovack Advisors Inc. grew its stake in International Business Machines by 31.7% during the 1st quarter. Kovack Advisors Inc. now owns 8,652 shares of the technology company’s stock valued at $1,652,000 after acquiring an additional 2,084 shares in the last quarter. Everett Harris & Co. CA grew its position in International Business Machines by 4.7% during the first quarter. Everett Harris & Co. CA now owns 3,882 shares of the technology company’s stock valued at $741,000 after purchasing an additional 175 shares in the last quarter. Norden Group LLC increased its stake in International Business Machines by 16.3% in the 1st quarter. Norden Group LLC now owns 5,880 shares of the technology company’s stock valued at $1,123,000 after buying an additional 824 shares during the period. Consolidated Portfolio Review Corp purchased a new stake in International Business Machines in the 1st quarter worth approximately $234,000. Finally, Private Advisor Group LLC grew its holdings in shares of International Business Machines by 5.6% during the 1st quarter. Private Advisor Group LLC now owns 164,921 shares of the technology company’s stock valued at $31,493,000 after acquiring an additional 8,705 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

IBM traded up $0.98 during midday trading on Thursday, reaching $205.88. The company’s stock had a trading volume of 1,089,362 shares, compared to its average volume of 4,252,147. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The company has a fifty day simple moving average of $216.38 and a 200 day simple moving average of $190.95. The stock has a market cap of $189.12 billion, a P/E ratio of 23.31, a PEG ratio of 4.84 and a beta of 0.70. International Business Machines Co. has a twelve month low of $142.59 and a twelve month high of $237.37.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.20 EPS. Research analysts expect that International Business Machines Co. will post 10.13 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Analysts Set New Price Targets

Several brokerages recently issued reports on IBM. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a report on Wednesday, October 2nd. Bank of America raised their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley lowered their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. BMO Capital Markets raised their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group boosted their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $208.12.

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.