Red Spruce Capital LLC Has $1.73 Million Stake in International Business Machines Co. (NYSE:IBM)

Red Spruce Capital LLC lowered its position in International Business Machines Co. (NYSE:IBM) by 5.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 7,835 shares of the technology company’s stock after selling 451 shares during the period. Red Spruce Capital LLC’s holdings in International Business Machines were worth $1,732,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in IBM. Vanguard Group Inc. raised its holdings in shares of International Business Machines by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after purchasing an additional 5,546,855 shares in the last quarter. Legal & General Group Plc increased its position in International Business Machines by 4.1% during the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after buying an additional 330,694 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in International Business Machines by 6.4% during the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after buying an additional 444,698 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of International Business Machines by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after buying an additional 304,390 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of International Business Machines by 151.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after acquiring an additional 2,118,165 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on IBM shares. The Goldman Sachs Group boosted their target price on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Evercore ISI raised their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research report on Wednesday. Finally, UBS Group boosted their price objective on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $194.35.

International Business Machines Price Performance

Shares of IBM stock traded up $3.28 during mid-day trading on Friday, reaching $226.00. The company’s stock had a trading volume of 3,554,328 shares, compared to its average volume of 4,222,131. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The firm’s 50-day moving average is $203.61 and its two-hundred day moving average is $186.23. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $226.08. The company has a market cap of $207.60 billion, a P/E ratio of 25.59, a PEG ratio of 4.90 and a beta of 0.70.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter last year, the company earned $2.18 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, research analysts predict that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio is 75.65%.

International Business Machines 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.