Marble Harbor Investment Counsel LLC Has $423,000 Stake in International Business Machines Co. (NYSE:IBM)

Marble Harbor Investment Counsel LLC cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 6.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,443 shares of the technology company’s stock after selling 175 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in International Business Machines were worth $423,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FPC Investment Advisory Inc. bought a new stake in International Business Machines in the 1st quarter valued at about $26,000. ESL Trust Services LLC acquired a new stake in International Business Machines in the 1st quarter valued at $28,000. Creekmur Asset Management LLC bought a new stake in International Business Machines during the 4th quarter valued at $29,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of International Business Machines in the fourth quarter valued at $31,000. Finally, Financial Synergies Wealth Advisors Inc. increased its position in shares of International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after acquiring an additional 123 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Evercore ISI increased their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Jefferies Financial Group lifted their target price on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. The Goldman Sachs Group started coverage on International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price for the company. BMO Capital Markets increased their price target on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Finally, Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $188.60.

International Business Machines Stock Performance

NYSE IBM opened at $214.79 on Monday. The company has a 50-day simple moving average of $192.83 and a two-hundred day simple moving average of $183.37. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $216.09. The firm has a market cap of $197.85 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 4.67 and a beta of 0.70. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the business posted $2.18 EPS. International Business Machines’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts forecast that International Business Machines Co. will post 10.1 EPS 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 issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.11%. International Business Machines’s dividend payout ratio 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.