Cape ANN Savings Bank Buys New Shares in International Business Machines Corporation $IBM

Cape ANN Savings Bank purchased a new position in shares of International Business Machines Corporation (NYSE:IBM) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,519 shares of the technology company’s stock, valued at approximately $711,000.

Several other large investors have also added to or reduced their stakes in the company. Lifestyle Asset Management Inc. lifted its holdings in shares of International Business Machines by 1.7% during the second quarter. Lifestyle Asset Management Inc. now owns 2,144 shares of the technology company’s stock worth $632,000 after purchasing an additional 36 shares during the period. Whelan Financial lifted its stake in International Business Machines by 2.4% during the 2nd quarter. Whelan Financial now owns 1,525 shares of the technology company’s stock valued at $450,000 after acquiring an additional 36 shares during the period. Ignite Planners LLC lifted its stake in International Business Machines by 0.9% during the 2nd quarter. Ignite Planners LLC now owns 3,964 shares of the technology company’s stock valued at $1,133,000 after acquiring an additional 36 shares during the period. Foster Group Inc. boosted its holdings in shares of International Business Machines by 1.6% in the 3rd quarter. Foster Group Inc. now owns 2,474 shares of the technology company’s stock valued at $698,000 after acquiring an additional 38 shares during the last quarter. Finally, Johnson Bixby & Associates LLC increased its stake in shares of International Business Machines by 3.3% in the second quarter. Johnson Bixby & Associates LLC now owns 1,208 shares of the technology company’s stock worth $356,000 after acquiring an additional 39 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM stock opened at $303.93 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 1.97. International Business Machines Corporation has a 12-month low of $214.50 and a 12-month high of $324.90. The business’s 50 day moving average is $302.10 and its two-hundred day moving average is $280.26. The company has a market capitalization of $284.09 billion, a P/E ratio of 36.35, a P/E/G ratio of 3.02 and a beta of 0.69.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.20. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The business had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.10 billion. During the same period in the previous year, the business earned $2.30 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. Analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were given a dividend of $1.68 per share. The ex-dividend date was Monday, November 10th. This represents a $6.72 dividend on an annualized basis and a yield of 2.2%. International Business Machines’s dividend payout ratio is currently 80.38%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on IBM shares. Wall Street Zen downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday. Erste Group Bank raised International Business Machines from a “hold” rating to a “buy” rating in a report on Friday, December 5th. BMO Capital Markets upped their target price on International Business Machines from $300.00 to $305.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. UBS Group reiterated a “sell” rating on shares of International Business Machines in a research report on Tuesday, December 9th. Finally, Morgan Stanley lowered their price objective on International Business Machines from $256.00 to $252.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $293.38.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.