International Business Machines Corporation $IBM Shares Sold by Whittier Trust Co.

Whittier Trust Co. trimmed its position in shares of International Business Machines Corporation (NYSE:IBM) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,988 shares of the technology company’s stock after selling 1,062 shares during the period. Whittier Trust Co.’s holdings in International Business Machines were worth $10,019,000 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 company. Lifestyle Asset Management Inc. increased its stake 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 buying an additional 36 shares during the period. Whelan Financial increased its stake in shares of International Business Machines by 2.4% during the second quarter. Whelan Financial now owns 1,525 shares of the technology company’s stock worth $450,000 after buying an additional 36 shares during the period. Ignite Planners LLC increased its stake in shares of International Business Machines by 0.9% during the second quarter. Ignite Planners LLC now owns 3,964 shares of the technology company’s stock worth $1,133,000 after buying an additional 36 shares during the period. Blue Edge Capital LLC increased its stake in shares of International Business Machines by 0.6% during the first quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company’s stock worth $1,685,000 after buying an additional 39 shares during the period. Finally, Johnson Bixby & Associates LLC increased its stake in shares of International Business Machines by 3.3% during the second quarter. Johnson Bixby & Associates LLC now owns 1,208 shares of the technology company’s stock worth $356,000 after buying an additional 39 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $282.07 on Wednesday. The firm has a market capitalization of $262.16 billion, a P/E ratio of 45.79, a P/E/G ratio of 4.36 and a beta of 0.73. International Business Machines Corporation has a 52 week low of $203.51 and a 52 week high of $301.04. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The firm’s 50 day moving average is $262.97 and its two-hundred day moving average is $262.39.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.15. The business had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $2.43 earnings per share. Research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IBM. Melius Research upgraded shares of International Business Machines to a “strong-buy” rating in a research note on Monday, July 7th. JPMorgan Chase & Co. upped their target price on shares of International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Wall Street Zen lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $315.00 price target on shares of International Business Machines in a research note on Thursday, October 16th. Finally, The Goldman Sachs Group increased their price target on shares of International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $289.08.

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.