Addenda Capital Inc. Sells 6,431 Shares of International Business Machines Co. (NYSE:IBM)

Addenda Capital Inc. lowered its position in International Business Machines Co. (NYSE:IBM - Free Report) by 15.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,929 shares of the technology company's stock after selling 6,431 shares during the period. Addenda Capital Inc.'s holdings in International Business Machines were worth $8,685,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. American National Bank & Trust raised its position in shares of International Business Machines by 61.3% in the first quarter. American National Bank & Trust now owns 9,249 shares of the technology company's stock valued at $2,300,000 after purchasing an additional 3,516 shares during the period. Green Alpha Advisors LLC raised its position in shares of International Business Machines by 86.4% in the first quarter. Green Alpha Advisors LLC now owns 22,851 shares of the technology company's stock valued at $5,682,000 after purchasing an additional 10,594 shares during the period. Advance Capital Management Inc. increased its position in International Business Machines by 67.7% during the first quarter. Advance Capital Management Inc. now owns 2,716 shares of the technology company's stock worth $675,000 after acquiring an additional 1,096 shares during the period. Czech National Bank increased its position in International Business Machines by 5.9% during the first quarter. Czech National Bank now owns 212,376 shares of the technology company's stock worth $52,809,000 after acquiring an additional 11,894 shares during the period. Finally, Mechanics Bank Trust Department increased its position in International Business Machines by 54.2% during the first quarter. Mechanics Bank Trust Department now owns 3,528 shares of the technology company's stock worth $877,000 after acquiring an additional 1,240 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. BMO Capital Markets reaffirmed a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Oppenheimer assumed coverage on shares of International Business Machines in a report on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 price target on the stock. Finally, Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $249.06.

International Business Machines Trading Up 1.8%

NYSE:IBM traded up $4.79 during trading hours on Monday, hitting $263.85. 2,831,045 shares of the stock were exchanged, compared to its average volume of 4,217,387. The company's 50 day moving average is $246.37 and its two-hundred day moving average is $240.23. International Business Machines Co. has a twelve month low of $163.53 and a twelve month high of $269.28. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $245.22 billion, a P/E ratio of 41.16, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results 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 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 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, sell-side analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be 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 annualized dividend and a dividend yield of 2.55%. International Business Machines's payout ratio is presently 115.66%.

International Business Machines Company 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.