First National Bank Sioux Falls Cuts Stake in International Business Machines Co. (NYSE:IBM)

First National Bank Sioux Falls lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 26.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,225 shares of the technology company’s stock after selling 800 shares during the quarter. First National Bank Sioux Falls’ holdings in International Business Machines were worth $553,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Tallon Kerry Patrick bought a new position in shares of International Business Machines during the fourth quarter valued at approximately $902,000. Brighton Jones LLC raised its holdings in shares of International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after acquiring an additional 2,323 shares in the last quarter. Wealthstar Advisors LLC bought a new position in International Business Machines in the fourth quarter worth $694,000. Stone Summit Wealth LLC raised its holdings in International Business Machines by 21.2% in the fourth quarter. Stone Summit Wealth LLC now owns 1,446 shares of the technology company’s stock worth $318,000 after purchasing an additional 253 shares in the last quarter. Finally, Angeles Wealth Management LLC raised its holdings in International Business Machines by 18.1% in the fourth quarter. Angeles Wealth Management LLC now owns 3,556 shares of the technology company’s stock worth $782,000 after purchasing an additional 545 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on IBM. KGI Securities set a $242.00 price objective on International Business Machines and gave the stock a “hold” rating in a report on Thursday, April 24th. UBS Group reiterated a “sell” rating and issued a $170.00 price objective (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Bank of America lifted their price objective on International Business Machines from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Monday. BMO Capital Markets reissued a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Wedbush reissued an “outperform” rating and issued a $300.00 target price on shares of International Business Machines in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $250.31.

International Business Machines Stock Performance

NYSE:IBM opened at $272.13 on Tuesday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a 1 year low of $166.81 and a 1 year high of $273.66. The stock’s 50 day simple moving average is $248.62 and its two-hundred day simple moving average is $242.46. The company has a market cap of $252.92 billion, a price-to-earnings ratio of 42.45, a PEG ratio of 5.81 and a beta of 0.66.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The business had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter in the previous year, the company posted $1.68 EPS. The company’s revenue was up .5% compared to the same quarter last year. As a group, equities analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.47%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is currently 115.66%.

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.