International Business Machines Co. (NYSE:IBM) Shares Sold by Trust Point Inc.

Trust Point Inc. trimmed its holdings in International Business Machines Co. (NYSE:IBM) by 20.2% during the first quarter, HoldingsChannel.com reports. The firm owned 8,823 shares of the technology company’s stock after selling 2,227 shares during the period. Trust Point Inc.’s holdings in International Business Machines were worth $2,194,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of International Business Machines by 1.7% during the 4th 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 in the last quarter. Geode Capital Management LLC raised its position in shares of International Business Machines by 2.1% during the 4th 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 in the last quarter. Capital World Investors increased its position 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 worth $2,634,577,000 after buying an additional 9,650,534 shares during the period. Northern Trust Corp increased its position 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 worth $2,384,275,000 after buying 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% 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 worth $1,783,281,000 after buying an additional 722,582 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on IBM shares. BMO Capital Markets reaffirmed a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Bank of America increased their target price on International Business Machines from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Wall Street Zen lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. KGI Securities set a $242.00 target price on International Business Machines and gave the stock a “hold” rating in a research report on Thursday, April 24th. Finally, Citigroup reaffirmed an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus target price of $250.31.

International Business Machines Trading Down 1.5%

Shares of IBM stock opened at $276.84 on Monday. The stock has a 50-day simple moving average of $252.60 and a 200 day simple moving average of $243.90. International Business Machines Co. has a fifty-two week low of $167.50 and a fifty-two week high of $283.06. The stock has a market capitalization 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. The company has a quick ratio of 1.00, a current ratio of 1.04 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 for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $14.41 billion. During the same quarter last year, the business posted $1.68 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. On average, sell-side analysts expect that International Business Machines Co. 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. Investors of record on Friday, May 9th were paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.43%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. 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.