Passumpsic Savings Bank Has $452,000 Stake in International Business Machines Co. (NYSE:IBM)

Passumpsic Savings Bank grew its holdings in shares of International Business Machines Co. (NYSE:IBM) by 3.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,045 shares of the technology company’s stock after acquiring an additional 74 shares during the quarter. Passumpsic Savings Bank’s holdings in International Business Machines were worth $452,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lantz Financial LLC boosted its holdings in shares of International Business Machines by 0.9% during the 2nd quarter. Lantz Financial LLC now owns 11,935 shares of the technology company’s stock worth $2,064,000 after buying an additional 107 shares in the last quarter. Great Valley Advisor Group Inc. raised its position in International Business Machines by 0.6% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 14,469 shares of the technology company’s stock valued at $2,503,000 after buying an additional 89 shares during the last quarter. Leavell Investment Management Inc. raised its position in International Business Machines by 10.2% in the 2nd quarter. Leavell Investment Management Inc. now owns 13,981 shares of the technology company’s stock valued at $2,418,000 after buying an additional 1,293 shares during the last quarter. Red Door Wealth Management LLC raised its position in International Business Machines by 4.2% in the 2nd quarter. Red Door Wealth Management LLC now owns 4,599 shares of the technology company’s stock valued at $795,000 after buying an additional 187 shares during the last quarter. Finally, Blackston Financial Advisory Group LLC raised its position in International Business Machines by 70.7% in the 2nd quarter. Blackston Financial Advisory Group LLC now owns 2,313 shares of the technology company’s stock valued at $400,000 after buying an additional 958 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Performance

NYSE:IBM opened at $232.15 on Wednesday. International Business Machines Co. has a 52-week low of $157.88 and a 52-week high of $239.35. 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 firm has a market capitalization of $214.66 billion, a PE ratio of 33.74, a P/E/G ratio of 5.16 and a beta of 0.73. The stock has a 50-day simple moving average of $221.92 and a two-hundred day simple moving average of $200.27.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the previous year, the firm posted $2.20 EPS. The business’s quarterly revenue was up 1.5% on a year-over-year basis. Analysts forecast that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 2.88%. International Business Machines’s payout ratio is 97.23%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IBM. Morgan Stanley lowered their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Bank of America upped their price objective 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. Jefferies Financial Group upped their price objective on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. BMO Capital Markets upped their price objective on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Finally, Bernstein Bank upped their price objective on 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. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $208.12.

Insider Activity at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $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 accessible through this link. 0.07% of the stock is currently owned by insiders.

About International Business Machines

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.