International Business Machines Corporation (NYSE:IBM) Shares Purchased by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 18.2% in the first quarter, HoldingsChannel reports. The fund owned 14,497 shares of the technology company’s stock after buying an additional 2,228 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in International Business Machines were worth $3,559,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Vision Financial Markets LLC acquired a new position in International Business Machines during the 4th quarter valued at about $31,000. Rialto Wealth Management LLC acquired a new position in shares of International Business Machines during the fourth quarter valued at approximately $35,000. Tacita Capital Inc raised its holdings 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 purchasing an additional 122 shares in the last quarter. Measured Risk Portfolios Inc. acquired a new stake in International Business Machines in the fourth quarter worth approximately $43,000. Finally, Park Square Financial Group LLC bought a new position in International Business Machines during the 4th quarter valued at $43,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Royal Bank Of Canada boosted their price target on shares of International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. Wedbush raised their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, June 20th. Wall Street Zen cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. Finally, Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. 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 MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $253.75.

International Business Machines Stock Up 0.5%

IBM stock opened at $292.49 on Friday. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. The firm has a market capitalization of $271.84 billion, a P/E ratio of 50.34, a P/E/G ratio of 6.11 and a beta of 0.66. International Business Machines Corporation has a 52-week low of $170.48 and a 52-week high of $296.16. The company’s 50 day simple moving average is $261.91 and its 200-day simple moving average is $247.14.

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, beating the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The company’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business earned $1.68 EPS. As a group, equities research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given 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 yield of 2.30%. International Business Machines’s dividend payout ratio (DPR) is presently 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.