Burke & Herbert Bank & Trust Co. Purchases 117 Shares of International Business Machines Co. (NYSE:IBM)

Burke & Herbert Bank & Trust Co. boosted its position in shares of International Business Machines Co. (NYSE:IBM) by 1.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,778 shares of the technology company’s stock after buying an additional 117 shares during the quarter. Burke & Herbert Bank & Trust Co.’s holdings in International Business Machines were worth $1,720,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new position in shares of International Business Machines during the first quarter valued at approximately $26,000. ESL Trust Services LLC purchased a new position in International Business Machines during the 1st quarter valued at $28,000. Oliver Lagore Vanvalin Investment Group bought a new position in International Business Machines in the 2nd quarter worth $36,000. Wolff Wiese Magana LLC lifted its position in shares of International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares during the period. Finally, Briaud Financial Planning Inc lifted its position in shares of International Business Machines by 54.3% in the 2nd quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock worth $49,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE IBM traded down $1.11 during trading on Friday, hitting $217.28. The company had a trading volume of 897,713 shares, compared to its average volume of 4,209,281. International Business Machines Co. has a 12 month low of $141.58 and a 12 month high of $237.37. 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 has a market capitalization of $199.59 billion, a P/E ratio of 24.72, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. The stock has a 50 day simple moving average of $214.67 and a 200 day simple moving average of $190.05.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.20 EPS. As a group, analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on IBM shares. Jefferies Financial Group increased their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday. Bank of America increased their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Stifel Nicolaus raised their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets increased their price objective on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday. Finally, Morgan Stanley lowered their price objective on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines has an average rating of “Hold” and an average target price of $208.12.

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.