Thurston Springer Miller Herd & Titak Inc. Decreases Holdings in International Business Machines Corporation $IBM

Thurston Springer Miller Herd & Titak Inc. trimmed its stake in International Business Machines Corporation (NYSE:IBM) by 95.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 468 shares of the technology company’s stock after selling 10,096 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in International Business Machines were worth $132,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of IBM. Brighton Jones LLC lifted its position in shares of International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after buying an additional 2,323 shares during the last quarter. Strategies Wealth Advisors LLC bought a new stake in International Business Machines in the 1st quarter valued at about $398,000. Vestmark Advisory Solutions Inc. bought a new stake in International Business Machines in the 1st quarter valued at about $225,000. Northwest & Ethical Investments L.P. purchased a new stake in International Business Machines during the first quarter valued at about $451,000. Finally, Wellington Management Group LLP boosted its position in International Business Machines by 10.0% during the first quarter. Wellington Management Group LLP now owns 254,059 shares of the technology company’s stock worth $63,174,000 after purchasing an additional 23,038 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on IBM shares. UBS Group reissued a “sell” rating on shares of International Business Machines in a research report on Tuesday, December 9th. Bank of America boosted their target price on shares of International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Morgan Stanley dropped their target price 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. Oppenheimer initiated coverage on International Business Machines in a research report on Friday, November 21st. They issued an “outperform” rating and a $360.00 price target for the company. Finally, BMO Capital Markets increased their price objective on International Business Machines from $300.00 to $305.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $293.38.

International Business Machines Stock Down 1.7%

IBM opened at $303.44 on Wednesday. The firm has a market capitalization of $283.63 billion, a P/E ratio of 36.30, a price-to-earnings-growth ratio of 3.07 and a beta of 0.69. International Business Machines Corporation has a one year low of $214.50 and a one year high of $324.90. The company has a fifty day moving average price of $300.05 and a 200-day moving average price of $278.99. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89.

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, beating the consensus estimate 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 company had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.10 billion. During the same quarter last year, the company earned $2.30 earnings per share. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. Equities research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal 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 issued a dividend of $1.68 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $6.72 annualized dividend and a dividend yield of 2.2%. International Business Machines’s payout ratio is presently 80.38%.

About International Business Machines

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.