Ferguson Wellman Capital Management Inc. Has $28.46 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Ferguson Wellman Capital Management Inc. trimmed its position in International Business Machines Co. (NYSE:IBM) by 11.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 128,720 shares of the technology company’s stock after selling 16,484 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in International Business Machines were worth $28,457,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Integris Wealth Management LLC lifted its stake in shares of International Business Machines by 13.0% in the third quarter. Integris Wealth Management LLC now owns 1,739 shares of the technology company’s stock worth $384,000 after buying an additional 200 shares during the last quarter. Key Client Fiduciary Advisors LLC lifted its stake in shares of International Business Machines by 1.3% in the third quarter. Key Client Fiduciary Advisors LLC now owns 9,858 shares of the technology company’s stock worth $2,179,000 after buying an additional 122 shares during the last quarter. First Bancorp Inc ME lifted its stake in shares of International Business Machines by 14.9% in the third quarter. First Bancorp Inc ME now owns 4,028 shares of the technology company’s stock worth $891,000 after buying an additional 522 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of International Business Machines by 0.6% in the third quarter. Commonwealth Equity Services LLC now owns 700,125 shares of the technology company’s stock worth $154,784,000 after buying an additional 3,987 shares during the last quarter. Finally, Legacy Financial Strategies LLC bought a new position in International Business Machines during the third quarter worth $230,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of research reports. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Bernstein Bank boosted their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. UBS Group boosted their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Finally, BMO Capital Markets boosted their target price on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $203.06.

International Business Machines Price Performance

Shares of IBM traded down $0.68 during trading hours on Friday, hitting $232.20. The stock had a trading volume of 4,715,688 shares, compared to its average volume of 4,195,661. The company’s fifty day moving average is $212.19 and its two-hundred day moving average is $189.15. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $237.37. The stock has a market capitalization of $213.30 billion, a price-to-earnings ratio of 26.30, a P/E/G ratio of 5.21 and a beta of 0.70.

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

International Business Machines Dividend Announcement

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