Global Trust Asset Management LLC Sells 1,173 Shares of International Business Machines Corporation (NYSE:IBM)

Global Trust Asset Management LLC trimmed its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 31.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,526 shares of the technology company's stock after selling 1,173 shares during the quarter. Global Trust Asset Management LLC's holdings in International Business Machines were worth $628,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Bell Bank boosted its holdings in International Business Machines by 0.4% in the first quarter. Bell Bank now owns 51,550 shares of the technology company's stock valued at $12,818,000 after acquiring an additional 185 shares during the last quarter. Rakuten Securities Inc. boosted its stake in International Business Machines by 19.4% during the 1st quarter. Rakuten Securities Inc. now owns 874 shares of the technology company's stock worth $217,000 after acquiring an additional 142 shares during the last quarter. Insigneo Advisory Services LLC boosted its position in shares of International Business Machines by 17.8% during the first quarter. Insigneo Advisory Services LLC now owns 7,333 shares of the technology company's stock worth $1,824,000 after purchasing an additional 1,107 shares in the last quarter. Wagner Wealth Management LLC lifted its holdings in shares of International Business Machines by 1.0% during the 1st quarter. Wagner Wealth Management LLC now owns 11,300 shares of the technology company's stock valued at $2,810,000 after purchasing an additional 110 shares in the last quarter. Finally, NBT Bank N A NY lifted its stake in International Business Machines by 1.6% in the first quarter. NBT Bank N A NY now owns 43,511 shares of the technology company's stock valued at $10,819,000 after buying an additional 690 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Up 0.0%

NYSE:IBM traded up $0.10 on Wednesday, hitting $283.15. The stock had a trading volume of 3,531,800 shares, compared to its average volume of 4,234,993. The business's fifty day moving average is $254.78 and its 200 day moving average is $244.55. The company has a market cap of $263.16 billion, a PE ratio of 48.74, a P/E/G ratio of 5.94 and a beta of 0.66. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a 52 week low of $170.41 and a 52 week high of $286.88.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The company had revenue of $14.54 billion for the quarter, compared to analysts' expectations of $14.41 billion. During the same period last year, the business earned $1.68 EPS. International Business Machines's quarterly revenue was up .5% compared to the same quarter last year. On average, equities research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a $1.68 dividend. This is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.37%. International Business Machines's dividend payout ratio (DPR) is presently 115.66%.

Analysts Set New Price Targets

IBM has been the topic of a number of research reports. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. Wall Street Zen cut International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Bank of America increased their price objective on shares of International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a research report on Wednesday. UBS Group reissued a "sell" rating and issued a $170.00 price target (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, International Business Machines currently has an average rating of "Hold" and a consensus price target of $252.19.

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.