Farmers & Merchants Trust Co of Chambersburg PA Acquires 7,430 Shares of International Business Machines Corporation (NYSE:IBM)

Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 516.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,870 shares of the technology company's stock after purchasing an additional 7,430 shares during the quarter. Farmers & Merchants Trust Co of Chambersburg PA's holdings in International Business Machines were worth $2,206,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Vision Financial Markets LLC bought a new position in shares of International Business Machines in the fourth quarter worth approximately $31,000. Rialto Wealth Management LLC purchased a new stake in International Business Machines during the 4th quarter valued at $35,000. Tacita Capital Inc grew its holdings in International Business Machines by 174.3% in the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock worth $42,000 after acquiring an additional 122 shares during the last quarter. Measured Risk Portfolios Inc. purchased a new position in shares of International Business Machines in the fourth quarter valued at about $43,000. Finally, Park Square Financial Group LLC bought a new position in shares of International Business Machines during the fourth quarter valued at about $43,000. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IBM. Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. BMO Capital Markets reiterated a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Bank of America upped their target price on International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, UBS Group reissued a "sell" rating and set a $170.00 price objective (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $253.75.

International Business Machines Trading Down 0.8%

Shares of NYSE IBM opened at $289.69 on Monday. International Business Machines Corporation has a 1 year low of $173.38 and a 1 year high of $296.16. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. The firm has a 50-day moving average of $262.93 and a 200 day moving average of $247.77. The stock has a market cap of $269.24 billion, a P/E ratio of 49.86, a price-to-earnings-growth ratio of 6.08 and a beta of 0.66.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results 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. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The firm had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same period last year, the business earned $1.68 earnings per share. The business's revenue was up .5% on a year-over-year basis. As a group, sell-side analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal 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 given a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.32%. 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%.

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.

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