Crossmark Global Holdings Inc. Boosts Stock Position in International Business Machines Corporation (NYSE:IBM)

Crossmark Global Holdings Inc. increased its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 148,039 shares of the technology company's stock after acquiring an additional 7,416 shares during the quarter. International Business Machines makes up about 0.6% of Crossmark Global Holdings Inc.'s portfolio, making the stock its 22nd biggest holding. Crossmark Global Holdings Inc.'s holdings in International Business Machines were worth $36,811,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its position in International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after buying an additional 2,323 shares during the last quarter. Proficio Capital Partners LLC increased its stake in International Business Machines by 81.5% during the fourth quarter. Proficio Capital Partners LLC now owns 2,686 shares of the technology company's stock worth $591,000 after purchasing an additional 1,206 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of International Business Machines by 33.8% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 20,578 shares of the technology company's stock worth $4,992,000 after buying an additional 5,194 shares during the period. Rialto Wealth Management LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth approximately $35,000. Finally, Strategic Equity Management purchased a new stake in shares of International Business Machines during the fourth quarter worth approximately $230,000. Institutional investors and hedge funds own 58.96% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Morgan Stanley dropped their price target on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Bank of America increased their price target on International Business Machines from $290.00 to $320.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. UBS Group reaffirmed a "sell" rating and set a $170.00 price target (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Finally, Wall Street Zen cut International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. 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 issued a strong buy rating to the company. According to data from MarketBeat, International Business Machines has an average rating of "Hold" and an average price target of $257.50.

International Business Machines Price Performance

Shares of NYSE:IBM traded up $0.38 during midday trading on Monday, hitting $292.35. 4,486,500 shares of the stock were exchanged, compared to its average volume of 4,232,692. The stock has a market cap of $271.71 billion, a P/E ratio of 50.32, a PEG ratio of 6.13 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. International Business Machines Corporation has a twelve month low of $174.45 and a twelve month high of $296.16. The company has a 50 day moving average price of $268.36 and a 200-day moving average price of $250.04.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion during the quarter, compared to the consensus estimate 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 was up .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.68 EPS. On average, research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current 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 given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.30%. 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%.

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.