Stock Yards Bank & Trust Co. Acquires 856 Shares of International Business Machines Co. (NYSE:IBM)

Stock Yards Bank & Trust Co. boosted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,334 shares of the technology company’s stock after acquiring an additional 856 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in International Business Machines were worth $6,300,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of International Business Machines by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock valued at $20,189,023,000 after purchasing an additional 1,539,888 shares during the period. Geode Capital Management LLC raised its position in shares of International Business Machines by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock valued at $4,589,145,000 after purchasing an additional 427,499 shares during the period. Capital World Investors raised its position in shares of International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares during the period. Northern Trust Corp increased its position in International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after acquiring an additional 1,704,209 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in International Business Machines by 9.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company’s stock worth $1,783,281,000 after acquiring an additional 722,582 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

International Business Machines stock opened at $276.84 on Friday. The stock’s 50 day moving average is $252.60 and its 200 day moving average is $243.67. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The firm has a market cap of $257.29 billion, a P/E ratio of 43.19, a P/E/G ratio of 5.81 and a beta of 0.66. International Business Machines Co. has a one year low of $167.23 and a one year high of $283.06.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. The company had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.68 earnings per share. As a group, research analysts expect 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. Shareholders of record on Friday, May 9th were paid a $1.68 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.43%. International Business Machines’s payout ratio is 115.66%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IBM. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a “hold” rating in a research report on Thursday, April 24th. Bank of America lifted their price target on International Business Machines from $270.00 to $290.00 and gave the company a “buy” rating in a report on Monday, June 9th. UBS Group reaffirmed a “sell” rating and issued a $170.00 price target (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. BMO Capital Markets reiterated a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Royal Bank of Canada upped their price target on International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $250.31.

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.