Ipswich Investment Management Co. Inc. Has $3.44 Million Position in International Business Machines Co. (NYSE:IBM)

Ipswich Investment Management Co. Inc. trimmed its position in International Business Machines Co. (NYSE:IBM) by 0.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,544 shares of the technology company’s stock after selling 100 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in International Business Machines were worth $3,436,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hazlett Burt & Watson Inc. boosted its position in shares of International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC bought a new position in International Business Machines during the third quarter worth about $29,000. ESL Trust Services LLC acquired a new position in International Business Machines in the first quarter valued at about $28,000. Capital Performance Advisors LLP bought a new stake in shares of International Business Machines in the third quarter worth about $43,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Business Machines during the second quarter worth about $36,000. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the subject of several research reports. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Thursday, October 24th. Evercore ISI raised their target price on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Bank of America boosted their price target on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group increased their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $208.12.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is currently owned by company insiders.

International Business Machines Stock Down 1.9 %

Shares of IBM opened at $204.99 on Friday. The stock has a market capitalization of $189.54 billion, a price-to-earnings ratio of 29.84, a PEG ratio of 4.74 and a beta of 0.71. International Business Machines Co. has a 52 week low of $152.13 and a 52 week high of $237.37. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The stock has a fifty day moving average of $218.79 and a 200-day moving average of $193.48.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the previous year, the business posted $2.20 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be paid a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.26%. International Business Machines’s dividend payout ratio is 97.23%.

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.