Cullen Frost Bankers Inc. Acquires 1,020 Shares of International Business Machines Corporation (NYSE:IBM)

Cullen Frost Bankers Inc. lifted its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,259 shares of the technology company's stock after purchasing an additional 1,020 shares during the period. Cullen Frost Bankers Inc.'s holdings in International Business Machines were worth $21,201,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of IBM. Christopher J. Hasenberg Inc bought a new position in International Business Machines during the first quarter valued at about $27,000. Measured Risk Portfolios Inc. bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $43,000. Park Square Financial Group LLC acquired a new position in shares of International Business Machines in the fourth quarter valued at $43,000. Mascagni Wealth Management Inc. bought a new position in International Business Machines in the fourth quarter worth $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in International Business Machines during the first quarter worth $45,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Up 0.2%

Shares of NYSE:IBM traded up $0.49 during midday trading on Thursday, hitting $282.41. The company had a trading volume of 1,869,750 shares, compared to its average volume of 4,221,558. 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 12 month low of $181.81 and a 12 month high of $296.16. The firm has a fifty day simple moving average of $275.10 and a 200 day simple moving average of $253.14. The stock has a market cap of $262.47 billion, a price-to-earnings ratio of 48.59, a PEG ratio of 5.94 and a beta of 0.69.

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

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders 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 dividend yield of 2.38%. 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%.

Analyst Ratings Changes

A number of equities analysts have recently commented on IBM shares. Morgan Stanley reduced their price objective on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Wedbush raised their price target on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Wall Street Zen cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, UBS Group reissued a "sell" rating and issued a $195.00 price objective (up previously from $170.00) on shares of International Business Machines in a research note on Wednesday, July 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $264.94.

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.