Hemenway Trust Co LLC Sells 205 Shares of International Business Machines Co. (NYSE:IBM)

Hemenway Trust Co LLC decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 5.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,337 shares of the technology company’s stock after selling 205 shares during the quarter. Hemenway Trust Co LLC’s holdings in International Business Machines were worth $738,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBM. ESL Trust Services LLC acquired a new position in International Business Machines in the first quarter valued at $28,000. Hazlett Burt & Watson Inc. raised its position in shares of International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC acquired a new position in shares of International Business Machines in the 3rd quarter valued at about $29,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Business Machines during the 2nd quarter valued at about $36,000. Finally, Wolff Wiese Magana LLC boosted its position in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

IBM traded down $2.43 on Tuesday, hitting $211.14. The company’s stock had a trading volume of 154,260 shares, compared to its average volume of 4,220,946. The company’s 50 day simple moving average is $218.25 and its 200-day simple moving average is $192.68. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 12 month low of $147.35 and a 12 month high of $237.37. The firm has a market cap of $195.23 billion, a P/E ratio of 31.09, a price-to-earnings-growth ratio of 4.80 and a beta of 0.71.

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

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.16%. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

Analyst Ratings Changes

Several research firms have weighed in on IBM. Bernstein Bank lifted their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. UBS Group boosted their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Bank of America increased their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Evercore ISI upped their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Finally, The Goldman Sachs Group lifted their price target on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, International Business Machines has an average rating of “Hold” and an average target price of $208.12.

Insider Buying and Selling

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is currently owned by insiders.

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.