International Business Machines Co. (NYSE:IBM) Position Trimmed by Bar Harbor Wealth Management

Bar Harbor Wealth Management lessened its holdings in shares of International Business Machines Co. (NYSE:IBM) by 2.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,018 shares of the technology company’s stock after selling 1,819 shares during the quarter. International Business Machines makes up 1.2% of Bar Harbor Wealth Management’s investment portfolio, making the stock its 21st largest holding. Bar Harbor Wealth Management’s holdings in International Business Machines were worth $18,654,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. JBR Co Financial Management Inc lifted its holdings in shares of International Business Machines by 0.6% during the 4th quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock valued at $1,405,000 after buying an additional 40 shares during the last quarter. Wealth Dimensions Group Ltd. lifted its holdings in shares of International Business Machines by 1.0% during the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock valued at $873,000 after buying an additional 40 shares during the last quarter. Pallas Capital Advisors LLC lifted its holdings in shares of International Business Machines by 0.9% during the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company’s stock valued at $1,195,000 after buying an additional 42 shares during the last quarter. Schechter Investment Advisors LLC lifted its holdings in shares of International Business Machines by 0.7% during the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock valued at $1,396,000 after buying an additional 43 shares during the last quarter. Finally, Titleist Asset Management LLC lifted its holdings in shares of International Business Machines by 3.1% during the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company’s stock valued at $315,000 after buying an additional 43 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wedbush reiterated an “outperform” rating and set a $300.00 price target on shares of International Business Machines in a report on Wednesday, May 7th. Morgan Stanley reduced their price target on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Royal Bank of Canada boosted their target price on International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. UBS Group restated a “sell” rating and issued a $170.00 target price (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Citigroup restated an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, International Business Machines currently has an average rating of “Hold” and an average target price of $250.31.

International Business Machines Stock Down 0.3%

Shares of IBM stock opened at $280.69 on Friday. International Business Machines Co. has a 12 month low of $167.23 and a 12 month high of $283.06. The firm has a market cap of $260.87 billion, a PE ratio of 43.79, a price-to-earnings-growth ratio of 5.81 and a beta of 0.66. The stock has a 50 day moving average of $251.46 and a 200-day moving average of $243.34. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 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 company had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same period in the previous year, the company earned $1.68 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a dividend of $1.68 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.39%. International Business Machines’s payout ratio is 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.