International Business Machines Co. (NYSE:IBM) Stake Reduced by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC reduced its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 4.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 199,909 shares of the technology company's stock after selling 8,798 shares during the period. Douglas Lane & Associates LLC's holdings in International Business Machines were worth $49,709,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Treasurer of the State of North Carolina grew its position in shares of International Business Machines by 0.8% during the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock valued at $108,942,000 after acquiring an additional 4,131 shares during the period. Blue Zone Wealth Advisors LLC acquired a new stake in shares of International Business Machines in the 4th quarter worth $242,000. Tranquilli Financial Advisor LLC purchased a new position in shares of International Business Machines during the 4th quarter worth $373,000. Truist Financial Corp boosted its position in shares of International Business Machines by 6.5% during the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock valued at $178,296,000 after acquiring an additional 49,591 shares during the last quarter. Finally, Mufg Securities Americas Inc. acquired a new position in International Business Machines in the 4th quarter valued at about $3,000,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IBM. UBS Group reaffirmed 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. Royal Bank of Canada boosted their price target on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Morgan Stanley decreased 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 research report on Thursday, April 24th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Wall Street Zen cut shares of 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 given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $249.06.

International Business Machines Trading Up 1.8%

NYSE:IBM traded up $4.79 on Monday, reaching $263.85. The stock had a trading volume of 2,831,045 shares, compared to its average volume of 4,217,387. International Business Machines Co. has a 12-month low of $163.53 and a 12-month high of $269.28. The company has a market cap of $245.22 billion, a price-to-earnings ratio of 41.16, a P/E/G ratio of 5.81 and a beta of 0.64. The firm's fifty day moving average is $246.37 and its two-hundred day moving average is $240.23. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The company's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.68 earnings per share. Equities analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued 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 yield of 2.55%. International Business Machines's dividend payout ratio (DPR) is currently 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.