Cape ANN Savings Bank Acquires Shares of 2,519 International Business Machines Corporation $IBM

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

A number of other large investors have also recently made changes to their positions in IBM. Family CFO Inc bought a new position in International Business Machines in the 2nd quarter worth about $25,000. Winnow Wealth LLC purchased a new stake in shares of International Business Machines in the second quarter valued at approximately $27,000. Highline Wealth Partners LLC grew its stake in International Business Machines by 85.0% in the second quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock worth $33,000 after purchasing an additional 51 shares in the last quarter. Silicon Valley Capital Partners grew its stake in International Business Machines by 322.6% in the first quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Finally, Copia Wealth Management raised its position in International Business Machines by 57.6% during the 2nd quarter. Copia Wealth Management now owns 134 shares of the technology company’s stock valued at $40,000 after purchasing an additional 49 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Oppenheimer initiated coverage on International Business Machines in a research report on Friday, November 21st. They set an “outperform” rating and a $360.00 price target on the stock. Wall Street Zen lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday. Bank of America increased their target price on shares of International Business Machines from $310.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Friday, December 5th. Finally, Weiss Ratings upgraded shares of International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Moderate Buy” and a consensus target price of $293.38.

International Business Machines Price Performance

Shares of IBM opened at $303.93 on Wednesday. The company has a 50 day moving average of $302.10 and a two-hundred day moving average of $280.26. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 1.97. International Business Machines Corporation has a twelve month low of $214.50 and a twelve month high of $324.90. The company has a market cap of $284.09 billion, a price-to-earnings ratio of 36.35, a price-to-earnings-growth ratio of 3.02 and a beta of 0.69.

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

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were paid a $1.68 dividend. 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 (DPR) is 80.38%.

International Business Machines Company 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.