International Business Machines Corporation $IBM Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 180,826 shares of the technology company’s stock after selling 2,798 shares during the period. Amalgamated Bank’s holdings in International Business Machines were worth $51,022,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Whelan Financial lifted its holdings in International Business Machines by 2.4% in the second 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 increased its holdings in International Business Machines by 0.9% in the second quarter. Ignite Planners LLC now owns 3,964 shares of the technology company’s stock valued at $1,133,000 after buying an additional 36 shares in the last quarter. Vishria Bird Financial Group LLC increased its holdings in International Business Machines by 3.0% in the third quarter. Vishria Bird Financial Group LLC now owns 1,230 shares of the technology company’s stock valued at $347,000 after buying an additional 36 shares in the last quarter. Prosperitas Financial LLC lifted its position in shares of International Business Machines by 2.9% during the 3rd quarter. Prosperitas Financial LLC now owns 1,260 shares of the technology company’s stock valued at $356,000 after acquiring an additional 36 shares during the period. Finally, TI Trust Inc. boosted its stake in shares of International Business Machines by 0.8% during the 3rd quarter. TI Trust Inc. now owns 4,492 shares of the technology company’s stock worth $1,267,000 after acquiring an additional 37 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Weiss Ratings raised International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Friday, December 5th. Bank of America boosted their price objective on shares of International Business Machines from $315.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. BMO Capital Markets raised their target price on shares of International Business Machines from $300.00 to $305.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Finally, Stifel Nicolaus upped their price target on shares of International Business Machines from $295.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, International Business Machines has a consensus rating of “Moderate Buy” and an average price target of $303.38.

International Business Machines Trading Up 2.6%

NYSE:IBM opened at $305.82 on Friday. The company’s 50 day moving average is $303.46 and its 200-day moving average is $282.44. 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 12 month low of $214.50 and a 12 month high of $324.90. The firm has a market cap of $285.86 billion, a price-to-earnings ratio of 36.58, a P/E/G ratio of 2.96 and a beta of 0.70.

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

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders 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 dividend yield of 2.2%. International Business Machines’s payout ratio is presently 80.38%.

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.