Webster Bank N. A. Lowers Position in International Business Machines Co. (NYSE:IBM)

Webster Bank N. A. decreased its stake in International Business Machines Co. (NYSE:IBM) by 10.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,904 shares of the technology company’s stock after selling 800 shares during the period. Webster Bank N. A.’s holdings in International Business Machines were worth $924,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Live Oak Investment Partners purchased a new stake in shares of International Business Machines in the fourth quarter worth $30,000. GW&K Investment Management LLC bought a new stake in International Business Machines in the 1st quarter worth $33,000. First Command Advisory Services Inc. purchased a new position in International Business Machines during the 1st quarter valued at about $37,000. Pacific Center for Financial Services purchased a new position in shares of International Business Machines during the first quarter valued at approximately $41,000. Finally, Kepos Capital LP purchased a new position in International Business Machines during the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 56.16% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE IBM traded up $1.15 during midday trading on Tuesday, reaching $146.24. 2,291,078 shares of the stock were exchanged, compared to its average volume of 4,530,044. International Business Machines Co. has a twelve month low of $115.54 and a twelve month high of $153.21. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.28. The firm has a market cap of $133.23 billion, a price-to-earnings ratio of 67.68, a PEG ratio of 3.71 and a beta of 0.85. The firm has a 50-day simple moving average of $142.59 and a two-hundred day simple moving average of $133.71.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 19th. The technology company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.18. The business had revenue of $15.48 billion during the quarter, compared to analyst estimates of $15.58 billion. International Business Machines had a net margin of 3.35% and a return on equity of 38.10%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.31 earnings per share. As a group, analysts anticipate that International Business Machines Co. will post 9.43 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, September 9th. Shareholders of record on Thursday, August 10th were issued a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a dividend yield of 4.54%. The ex-dividend date was Wednesday, August 9th. International Business Machines’s payout ratio is 307.41%.

Analysts Set New Price Targets

IBM has been the topic of a number of recent research reports. Bank of America upped their target price on shares of International Business Machines from $152.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Morgan Stanley reiterated an “equal weight” rating and set a $135.00 target price on shares of International Business Machines in a research note on Thursday, July 20th. BMO Capital Markets increased their price objective on shares of International Business Machines from $145.00 to $150.00 and gave the stock a “market perform” rating in a research note on Monday, July 17th. Finally, Stifel Nicolaus lifted their target price on International Business Machines from $140.00 to $144.00 and gave the company a “buy” rating in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $142.91.

International Business Machines Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.