Bar Harbor Wealth Management Has $18.65 Million Position in International Business Machines Co. (NYSE:IBM)

Bar Harbor Wealth Management lessened its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 75,018 shares of the technology company's stock after selling 1,819 shares during the quarter. International Business Machines makes up approximately 1.2% of Bar Harbor Wealth Management's portfolio, making the stock its 21st largest holding. Bar Harbor Wealth Management's holdings in International Business Machines were worth $18,654,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Twin Peaks Wealth Advisors LLC bought a new position in International Business Machines during the first quarter valued at approximately $228,000. Bensler LLC bought a new position in International Business Machines during the first quarter valued at approximately $266,000. Relyea Zuckerberg Hanson LLC raised its position in International Business Machines by 6.7% during the first quarter. Relyea Zuckerberg Hanson LLC now owns 2,245 shares of the technology company's stock valued at $558,000 after acquiring an additional 141 shares in the last quarter. Paragon Capital Management Ltd raised its position in International Business Machines by 258.2% during the first quarter. Paragon Capital Management Ltd now owns 4,606 shares of the technology company's stock valued at $1,145,000 after acquiring an additional 3,320 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. raised its position in shares of International Business Machines by 32.1% in the first quarter. Quintet Private Bank Europe S.A. now owns 2,968 shares of the technology company's stock valued at $738,000 after purchasing an additional 722 shares during the period. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

IBM stock traded down $4.20 on Friday, reaching $276.84. 3,242,911 shares of the company were exchanged, compared to its average volume of 4,232,590. International Business Machines Co. has a 12 month low of $167.23 and a 12 month high of $283.06. The stock's fifty day moving average price is $251.46 and its 200 day moving average price is $243.34. The firm has a market capitalization of $257.29 billion, a PE ratio of 43.19, a PEG ratio of 5.81 and a beta of 0.66. 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 posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The firm had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter in the previous year, the company earned $1.68 earnings per share. The business's revenue was up .5% compared to the same quarter last year. On average, research analysts anticipate that International Business Machines Co. 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. Shareholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.43%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is currently 115.66%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on IBM shares. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. BMO Capital Markets reissued a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Finally, KGI Securities set a $242.00 price target on shares of International Business Machines and gave the company a "hold" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $250.31.

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.