OLD National Bancorp IN Decreases Stock Position in International Business Machines Co. (NYSE:IBM)

OLD National Bancorp IN cut its holdings in International Business Machines Co. (NYSE:IBM) by 35.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,085 shares of the technology company’s stock after selling 8,783 shares during the period. OLD National Bancorp IN’s holdings in International Business Machines were worth $2,631,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Brendel Financial Advisors LLC bought a new stake in shares of International Business Machines in the 4th quarter worth about $395,000. Klingenstein Fields & Co. LP increased its holdings in shares of International Business Machines by 6.4% in the 4th quarter. Klingenstein Fields & Co. LP now owns 15,140 shares of the technology company’s stock worth $2,476,000 after buying an additional 908 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in shares of International Business Machines by 65.2% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 12,861 shares of the technology company’s stock worth $2,103,000 after buying an additional 5,075 shares during the last quarter. PSI Advisors LLC increased its holdings in shares of International Business Machines by 8.8% in the 4th quarter. PSI Advisors LLC now owns 2,033 shares of the technology company’s stock worth $332,000 after buying an additional 164 shares during the last quarter. Finally, Cetera Trust Company N.A bought a new position in International Business Machines during the 4th quarter valued at about $185,000. 58.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IBM has been the topic of several analyst reports. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Tuesday. Stifel Nicolaus reiterated a “buy” rating and set a $190.00 price target on shares of International Business Machines in a report on Wednesday, April 17th. Evercore ISI upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and upped their price target for the company from $165.00 to $200.00 in a report on Friday, January 19th. BMO Capital Markets boosted their price objective on shares of International Business Machines from $155.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. Finally, Jefferies Financial Group assumed coverage on shares of International Business Machines in a research report on Friday, January 5th. They issued a “hold” rating and a $180.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $174.92.

International Business Machines Trading Up 0.2 %

Shares of International Business Machines stock opened at $181.94 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. International Business Machines Co. has a 12-month low of $120.55 and a 12-month high of $199.18. The firm has a market capitalization of $166.79 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 3.57 and a beta of 0.70. The firm’s 50 day simple moving average is $188.38 and its two-hundred day simple moving average is $169.59.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 24th. The technology company reported $3.87 earnings per share for the quarter, topping analysts’ consensus estimates of $3.78 by $0.09. The firm had revenue of $17.38 billion for the quarter, compared to analyst estimates of $17.29 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.60 earnings per share. Analysts predict that International Business Machines Co. will post 10.04 EPS for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were given a dividend of $1.66 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.64 annualized dividend and a yield of 3.65%. International Business Machines’s dividend payout ratio is presently 81.67%.

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.