Eagle Bay Advisors LLC Sells 102 Shares of International Business Machines Co. (NYSE:IBM)

Eagle Bay Advisors LLC cut its stake in International Business Machines Co. (NYSE:IBM) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,445 shares of the technology company’s stock after selling 102 shares during the period. Eagle Bay Advisors LLC’s holdings in International Business Machines were worth $762,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in IBM. Ellenbecker Investment Group lifted its stake in International Business Machines by 2.3% in the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after buying an additional 46 shares during the last quarter. Castleview Partners LLC increased its holdings in shares of International Business Machines by 3.7% in the third quarter. Castleview Partners LLC now owns 1,522 shares of the technology company’s stock valued at $336,000 after purchasing an additional 55 shares during the period. Armbruster Capital Management Inc. increased its holdings 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. Aspect Partners LLC increased its holdings in shares of International Business Machines by 11.2% in the third quarter. Aspect Partners LLC now owns 554 shares of the technology company’s stock valued at $122,000 after purchasing an additional 56 shares during the period. Finally, Plimoth Trust Co. LLC increased its holdings in shares of International Business Machines by 0.3% in the third quarter. Plimoth Trust Co. LLC now owns 16,782 shares of the technology company’s stock valued at $3,710,000 after purchasing an additional 56 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

Shares of NYSE:IBM traded down $0.38 on Wednesday, hitting $231.87. The company had a trading volume of 1,238,286 shares, compared to its average volume of 4,169,158. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 52-week low of $136.05 and a 52-week high of $237.37. The business has a 50 day moving average of $213.86 and a 200 day moving average of $189.75. The company has a market cap of $213.00 billion, a PE ratio of 26.36, a PEG ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data 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. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the prior year, the business earned $2.18 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. As a group, equities analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 2.88%. International Business Machines’s dividend payout ratio is currently 75.65%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IBM. Morgan Stanley boosted their target price on International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Evercore ISI boosted their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Jefferies Financial Group upped their price objective on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday. The Goldman Sachs Group upped their price objective on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Bernstein Bank upped their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $205.71.

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.