International Business Machines Co. (NYSE:IBM) Shares Sold by InvesTrust

InvesTrust decreased its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 5.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,623 shares of the technology company's stock after selling 2,068 shares during the quarter. International Business Machines accounts for approximately 2.3% of InvesTrust's portfolio, making the stock its 10th largest holding. InvesTrust's holdings in International Business Machines were worth $8,361,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Merit Financial Group LLC grew its stake in shares of International Business Machines by 35.3% during the 1st quarter. Merit Financial Group LLC now owns 28,176 shares of the technology company's stock worth $7,006,000 after purchasing an additional 7,351 shares during the period. Anderson Hoagland & Co. lifted its position in shares of International Business Machines by 5.5% during the 1st quarter. Anderson Hoagland & Co. now owns 37,593 shares of the technology company's stock valued at $9,348,000 after buying an additional 1,953 shares in the last quarter. Harbor Investment Advisory LLC lifted its position in shares of International Business Machines by 5.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 6,029 shares of the technology company's stock valued at $1,499,000 after buying an additional 318 shares in the last quarter. Mitchell & Pahl Private Wealth LLC lifted its position in shares of International Business Machines by 13.9% during the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 1,303 shares of the technology company's stock valued at $324,000 after buying an additional 159 shares in the last quarter. Finally, Inspirion Wealth Advisors LLC purchased a new position in shares of International Business Machines during the 1st quarter valued at approximately $218,000. Institutional investors and hedge funds own 58.96% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Morgan Stanley decreased their price objective on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. KGI Securities set a $242.00 price objective on International Business Machines and gave the company a "hold" rating in a report on Thursday, April 24th. Finally, Royal Bank of Canada lifted their price target on International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $249.06.

International Business Machines Trading Up 0.1%

NYSE IBM traded up $0.14 during trading on Wednesday, hitting $265.34. The stock had a trading volume of 2,587,713 shares, compared to its average volume of 4,209,824. The company has a market capitalization of $246.61 billion, a PE ratio of 41.39, a PEG ratio of 5.81 and a beta of 0.64. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The firm has a 50 day moving average price of $247.02 and a 200 day moving average price of $240.81. International Business Machines Co. has a twelve month low of $163.88 and a twelve month high of $269.28.

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 for the quarter, beating the consensus estimate of $1.42 by $0.18. The company 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 38.99% and a net margin of 9.60%. International Business Machines's revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.68 EPS. As a group, equities research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be given a $1.68 dividend. This is an increase from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.53%. International Business Machines's payout ratio 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.