First National Bank of South Miami Cuts Stock Holdings in International Business Machines Co. (NYSE:IBM)

First National Bank of South Miami trimmed its position in shares of International Business Machines Co. (NYSE:IBM) by 9.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,816 shares of the technology company’s stock after selling 302 shares during the quarter. First National Bank of South Miami’s holdings in International Business Machines were worth $377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. ERn Financial LLC lifted its position in shares of International Business Machines by 4.2% during the 4th quarter. ERn Financial LLC now owns 1,886 shares of the technology company’s stock valued at $266,000 after buying an additional 76 shares in the last quarter. IRON Financial LLC lifted its position in shares of International Business Machines by 4.4% during the 4th quarter. IRON Financial LLC now owns 1,849 shares of the technology company’s stock valued at $261,000 after buying an additional 78 shares in the last quarter. Wintrust Investments LLC lifted its position in shares of International Business Machines by 3.9% during the 4th quarter. Wintrust Investments LLC now owns 2,173 shares of the technology company’s stock valued at $306,000 after buying an additional 82 shares in the last quarter. Forte Capital LLC ADV lifted its position in shares of International Business Machines by 0.9% during the 4th quarter. Forte Capital LLC ADV now owns 9,423 shares of the technology company’s stock valued at $1,328,000 after buying an additional 82 shares in the last quarter. Finally, Tranquility Partners LLC lifted its position in shares of International Business Machines by 5.0% during the 1st quarter. Tranquility Partners LLC now owns 1,730 shares of the technology company’s stock valued at $227,000 after buying an additional 82 shares in the last quarter. 56.16% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

NYSE IBM opened at $145.11 on Tuesday. The company has a market cap of $132.20 billion, a P/E ratio of 67.18, a P/E/G ratio of 3.71 and a beta of 0.85. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.01 and a current ratio of 1.06. The business’s 50 day moving average price is $142.59 and its 200-day moving average price is $133.71. International Business Machines Co. has a fifty-two week low of $115.54 and a fifty-two week high of $153.21.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 19th. The technology company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.18. The firm had revenue of $15.48 billion for the quarter, compared to the consensus estimate of $15.58 billion. International Business Machines had a return on equity of 38.10% and a net margin of 3.35%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.31 EPS. Sell-side analysts predict that International Business Machines Co. will post 9.43 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, September 9th. Investors of record on Thursday, August 10th were issued a dividend of $1.66 per share. This represents a $6.64 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend was Wednesday, August 9th. International Business Machines’s payout ratio is currently 307.41%.

Analyst Ratings Changes

A number of research firms have recently weighed in on IBM. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. BMO Capital Markets lifted their target price on International Business Machines from $145.00 to $150.00 and gave the company a “market perform” rating in a research note on Monday, July 17th. JPMorgan Chase & Co. initiated coverage on International Business Machines in a research note on Friday, July 7th. They set a “neutral” rating and a $145.00 target price on the stock. Bank of America lifted their target price on International Business Machines from $152.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 20th. Finally, Wedbush reissued a “neutral” rating and set a $140.00 target price on shares of International Business Machines in a research note on Thursday, July 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $142.91.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.