Grove Bank & Trust Buys 1,050 Shares of International Business Machines Co. (NYSE:IBM)

Grove Bank & Trust raised its stake in shares of International Business Machines Co. (NYSE:IBM) by 14.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 8,479 shares of the technology company’s stock after purchasing an additional 1,050 shares during the quarter. Grove Bank & Trust’s holdings in International Business Machines were worth $2,108,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in IBM. Vanguard Group Inc. increased its stake in 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 acquiring an additional 1,539,888 shares during the period. Geode Capital Management LLC increased its stake in 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 acquiring an additional 427,499 shares during the period. Capital World Investors increased its stake in 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 acquiring an additional 9,650,534 shares during the period. Northern Trust Corp increased its stake in International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $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 stake in International Business Machines by 9.8% in 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 valued at $1,783,281,000 after acquiring an additional 722,582 shares during the period. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IBM. Citigroup reissued an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. BMO Capital Markets reissued a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. UBS Group reissued a “sell” rating and issued a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada upped their price objective on shares of International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $250.31.

International Business Machines Price Performance

Shares of IBM stock opened at $281.66 on Tuesday. International Business Machines Co. has a 1 year low of $167.50 and a 1 year high of $284.50. The firm’s 50 day moving average is $253.83 and its 200-day moving average is $244.28. The firm 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. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last announced its earnings results 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 net margin of 9.60% and a return on equity of 38.99%. The company had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same period in the prior year, the business earned $1.68 earnings per share. International Business Machines’s quarterly revenue was up .5% on a year-over-year basis. Sell-side analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

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

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.