Benson Investment Management Company Inc. Decreases Stock Holdings in International Business Machines Co. (NYSE:IBM)

Benson Investment Management Company Inc. lessened its position in shares of International Business Machines Co. (NYSE:IBM) by 10.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,242 shares of the technology company’s stock after selling 3,758 shares during the period. International Business Machines makes up about 2.8% of Benson Investment Management Company Inc.’s portfolio, making the stock its 7th largest holding. Benson Investment Management Company Inc.’s holdings in International Business Machines were worth $7,128,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new position in International Business Machines during the first quarter worth about $26,000. ESL Trust Services LLC bought a new stake in shares of International Business Machines during the 1st quarter valued at approximately $28,000. Creekmur Asset Management LLC acquired a new position in International Business Machines during the 4th quarter worth approximately $29,000. Oliver Lagore Vanvalin Investment Group bought a new position in International Business Machines in the 2nd quarter valued at approximately $36,000. Finally, Financial Synergies Wealth Advisors Inc. boosted its position in International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after buying an additional 123 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

IBM stock opened at $235.26 on Tuesday. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $236.12. 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 stock has a 50-day moving average price of $208.71 and a 200-day moving average price of $187.93. The firm has a market cap of $216.11 billion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.27. The firm had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.18 earnings per share. As a group, equities research analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio is presently 75.65%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on IBM shares. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. UBS Group lifted their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research note on Wednesday, October 2nd. 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. Finally, Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.