Field & Main Bank Has $4.18 Million Position in International Business Machines Corporation (NYSE:IBM)

Field & Main Bank boosted its position in International Business Machines Corporation (NYSE:IBM) by 2.0% during the first quarter, Holdings Channel reports. The institutional investor owned 16,804 shares of the technology company’s stock after purchasing an additional 335 shares during the quarter. International Business Machines comprises approximately 1.5% of Field & Main Bank’s portfolio, making the stock its 19th largest holding. Field & Main Bank’s holdings in International Business Machines were worth $4,178,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of IBM. Vision Financial Markets LLC acquired a new position in shares of International Business Machines during the 4th quarter worth approximately $31,000. Rialto Wealth Management LLC acquired a new position in International Business Machines during the fourth quarter worth $35,000. Tacita Capital Inc raised its position in International Business Machines by 174.3% during the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock worth $42,000 after acquiring an additional 122 shares in the last quarter. Measured Risk Portfolios Inc. acquired a new stake in International Business Machines in the fourth quarter valued at $43,000. Finally, Park Square Financial Group LLC bought a new position in shares of International Business Machines in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Royal Bank Of Canada upped their price objective 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. Wedbush lifted their target price on International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, June 20th. KGI Securities set a $242.00 price target on International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. Finally, BMO Capital Markets reiterated a “market perform” rating 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 assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $253.75.

International Business Machines Stock Up 1.6%

NYSE IBM opened at $293.89 on Wednesday. The company has a market cap of $273.14 billion, a price-to-earnings ratio of 50.58, a PEG ratio of 6.07 and a beta of 0.66. International Business Machines Corporation has a 1-year low of $170.41 and a 1-year high of $294.60. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. The company has a 50 day moving average of $259.78 and a 200-day moving average of $246.40.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the prior year, the company posted $1.68 EPS. The company’s revenue was up .5% compared to the same quarter last year. On average, equities research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued 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 2.29%. International Business Machines’s dividend payout ratio (DPR) is currently 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.