Canandaigua National Bank & Trust Co. Sells 915 Shares of International Business Machines Corporation (NYSE:IBM)

Canandaigua National Bank & Trust Co. decreased its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,627 shares of the technology company's stock after selling 915 shares during the period. International Business Machines makes up about 0.8% of Canandaigua National Bank & Trust Co.'s portfolio, making the stock its 29th largest position. Canandaigua National Bank & Trust Co.'s holdings in International Business Machines were worth $7,616,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Brighton Jones LLC raised its stake in shares of International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after purchasing an additional 2,323 shares during the last quarter. Fisher Asset Management LLC grew its holdings in International Business Machines by 18.6% during the fourth quarter. Fisher Asset Management LLC now owns 18,292 shares of the technology company's stock worth $4,021,000 after buying an additional 2,872 shares in the last quarter. Capital Wealth Planning LLC raised its position in International Business Machines by 3.9% in the 4th quarter. Capital Wealth Planning LLC now owns 2,072,893 shares of the technology company's stock valued at $455,684,000 after buying an additional 78,198 shares during the last quarter. Maia Wealth LLC lifted its stake in International Business Machines by 20.8% during the 4th quarter. Maia Wealth LLC now owns 1,608 shares of the technology company's stock valued at $360,000 after acquiring an additional 277 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in International Business Machines by 21.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 9,962 shares of the technology company's stock worth $2,194,000 after acquiring an additional 1,765 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Performance

Shares of NYSE IBM traded down $3.51 during midday trading on Tuesday, hitting $291.27. The company's stock had a trading volume of 3,271,929 shares, compared to its average volume of 4,220,773. The firm has a market capitalization of $270.71 billion, a price-to-earnings ratio of 50.13, a P/E/G ratio of 6.19 and a beta of 0.69. 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 stock has a fifty day moving average price of $264.09 and a 200 day moving average price of $248.22. International Business Machines Corporation has a one year low of $173.95 and a one year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. International Business Machines's revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.68 EPS. On average, research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.31%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is presently 115.66%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on IBM shares. Royal Bank Of Canada raised their price target on shares of International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Morgan Stanley cut their price objective 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. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price 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.