Grimes & Company Inc. Has $3.96 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

Grimes & Company Inc. reduced its stake in International Business Machines Co. (NYSE:IBM) by 0.3% during the first quarter, Holdings Channel.com reports. The fund owned 15,939 shares of the technology company’s stock after selling 49 shares during the period. Grimes & Company Inc.’s holdings in International Business Machines were worth $3,963,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vision Financial Markets LLC acquired a new position in shares of International Business Machines in the fourth quarter worth approximately $31,000. Rialto Wealth Management LLC acquired a new position in International Business Machines in the fourth quarter valued at approximately $35,000. Tacita Capital Inc lifted its stake in International Business Machines by 174.3% in the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock valued at $42,000 after buying an additional 122 shares during the period. Park Square Financial Group LLC acquired a new position in International Business Machines in the fourth quarter valued at approximately $43,000. Finally, Measured Risk Portfolios Inc. acquired a new position in International Business Machines in the fourth quarter valued at approximately $43,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Up 1.6%

NYSE IBM opened at $281.66 on Tuesday. The stock has a market capitalization of $261.77 billion, a price-to-earnings ratio of 43.94, a PEG ratio of 5.81 and a beta of 0.66. International Business Machines Co. has a one year low of $167.50 and a one year high of $284.50. 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 business’s fifty day moving average is $253.83 and its 200-day moving average is $244.28.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $14.41 billion. During the same period in the previous year, the business posted $1.68 EPS. The firm’s quarterly revenue was up .5% compared to the same quarter last year. Equities research analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.39%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is presently 115.66%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on IBM shares. Wedbush reissued an “outperform” rating and issued a $300.00 price target on shares of International Business Machines in a research note on Wednesday, May 7th. Royal Bank of Canada boosted their price target on International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Morgan Stanley dropped their price target on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, UBS Group reiterated 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus target price of $250.31.

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.