Amalgamated Bank Boosts Holdings in International Business Machines Corporation (NYSE:IBM)

Amalgamated Bank grew its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 1.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 182,384 shares of the technology company's stock after purchasing an additional 2,078 shares during the period. Amalgamated Bank's holdings in International Business Machines were worth $45,352,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of IBM. Wealth Dimensions Group Ltd. lifted its holdings in shares of International Business Machines by 1.0% in the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock valued at $873,000 after buying an additional 40 shares during the period. Pallas Capital Advisors LLC raised its position in International Business Machines by 0.9% during the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock valued at $1,195,000 after acquiring an additional 42 shares in the last quarter. Schechter Investment Advisors LLC lifted its holdings in International Business Machines by 0.7% in the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company's stock valued at $1,396,000 after acquiring an additional 43 shares during the period. Titleist Asset Management LLC boosted its position in International Business Machines by 3.1% in the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock worth $315,000 after purchasing an additional 43 shares in the last quarter. Finally, Range Financial Group LLC grew its stake in shares of International Business Machines by 0.6% during the 1st quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock worth $1,828,000 after purchasing an additional 43 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of NYSE:IBM traded up $4.94 during midday trading on Monday, hitting $294.64. The company's stock had a trading volume of 3,493,590 shares, compared to its average volume of 4,220,959. The company has a market cap of $273.84 billion, a P/E ratio of 50.71, a price-to-earnings-growth ratio of 6.08 and a beta of 0.66. International Business Machines Corporation has a 12-month low of $173.38 and a 12-month high of $296.16. The business's 50 day simple moving average is $262.93 and its 200 day simple moving average is $247.77. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The business's revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the firm earned $1.68 earnings per share. On average, analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.28%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is currently 115.66%.

Wall Street Analysts Forecast Growth

IBM has been the topic of several analyst reports. UBS Group restated a "sell" rating and set a $170.00 price target (up previously from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Morgan Stanley dropped their target price on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Bank of America raised their price objective on International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Finally, Citigroup restated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. One equities 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $253.75.

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.