SeaBridge Investment Advisors LLC Lowers Stake in International Business Machines Co. (NYSE:IBM)

SeaBridge Investment Advisors LLC reduced its holdings in shares of International Business Machines Co. (NYSE:IBM) by 4.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 24,660 shares of the technology company’s stock after selling 1,250 shares during the period. International Business Machines makes up 1.2% of SeaBridge Investment Advisors LLC’s investment portfolio, making the stock its 27th largest holding. SeaBridge Investment Advisors LLC’s holdings in International Business Machines were worth $3,615,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Financial Consulate Inc. grew its holdings in shares of International Business Machines by 4.4% during the second quarter. Financial Consulate Inc. now owns 1,695 shares of the technology company’s stock worth $248,000 after buying an additional 72 shares in the last quarter. SNS Financial Group LLC grew its holdings in International Business Machines by 1.7% in the second quarter. SNS Financial Group LLC now owns 4,477 shares of the technology company’s stock valued at $656,000 after purchasing an additional 75 shares during the period. SignalPoint Asset Management LLC grew its holdings in International Business Machines by 2.0% in the second quarter. SignalPoint Asset Management LLC now owns 3,922 shares of the technology company’s stock valued at $575,000 after purchasing an additional 77 shares during the period. Signature Wealth Management Partners LLC grew its holdings in International Business Machines by 1.9% in the second quarter. Signature Wealth Management Partners LLC now owns 4,244 shares of the technology company’s stock valued at $622,000 after purchasing an additional 78 shares during the period. Finally, Vestmark Advisory Solutions Inc. grew its holdings in International Business Machines by 1.2% in the second quarter. Vestmark Advisory Solutions Inc. now owns 6,379 shares of the technology company’s stock valued at $935,000 after purchasing an additional 78 shares during the period. 55.24% of the stock is currently owned by institutional investors.

IBM stock traded up $0.66 during midday trading on Wednesday, reaching $136.88. 61,980 shares of the company’s stock traded hands, compared to its average volume of 5,261,347. The company has a market capitalization of $122.69 billion, a P/E ratio of 22.97, a PEG ratio of 1.56 and a beta of 1.22. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.84 and a quick ratio of 0.79. International Business Machines Co. has a fifty-two week low of $105.92 and a fifty-two week high of $152.84. The business has a 50-day moving average price of $140.48 and a two-hundred day moving average price of $139.61.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Sunday, July 18th. The technology company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.04. The firm had revenue of $18.75 billion for the quarter, compared to analysts’ expectations of $18.30 billion. International Business Machines had a net margin of 7.17% and a return on equity of 36.79%. International Business Machines’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.18 earnings per share. As a group, research analysts forecast that International Business Machines Co. will post 10.82 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Tuesday, August 10th were given a dividend of $1.64 per share. The ex-dividend date of this dividend was Monday, August 9th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 4.79%. International Business Machines’s payout ratio is currently 75.66%.

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of International Business Machines from $150.00 to $155.00 and gave the company a “market perform” rating in a report on Friday, July 16th. Societe Generale upgraded shares of International Business Machines from a “sell” rating to a “hold” rating and boosted their target price for the company from $121.00 to $140.00 in a report on Tuesday, July 20th. Morgan Stanley boosted their target price on shares of International Business Machines from $152.00 to $164.00 and gave the company an “equal weight” rating in a report on Tuesday, July 20th. Finally, Citigroup boosted their target price on shares of International Business Machines from $140.00 to $150.00 and gave the company a “neutral” rating in a report on Tuesday, July 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus price target of $149.86.

About International Business Machines

International Business Machines Corp. is an information technology company, which provides integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Cloud and Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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