International Business Machines Co. (NYSE:IBM) Shares Bought by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC grew its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 5.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 91,537 shares of the technology company's stock after acquiring an additional 4,741 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in International Business Machines were worth $22,761,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of International Business Machines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock worth $20,189,023,000 after purchasing an additional 1,539,888 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of International Business Machines by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company's stock valued at $4,589,145,000 after purchasing an additional 427,499 shares during the period. Capital World Investors grew its stake in International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after buying an additional 9,650,534 shares during the last quarter. Northern Trust Corp increased its position in International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock worth $2,384,275,000 after buying an additional 1,704,209 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in International Business Machines by 9.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company's stock valued at $1,783,281,000 after buying an additional 722,582 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. UBS Group reaffirmed a "sell" rating and issued a $170.00 target price (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Morgan Stanley dropped their price objective on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. BMO Capital Markets reiterated a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Royal Bank of Canada increased their target price 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. Finally, Wedbush reaffirmed an "outperform" rating and set a $300.00 price objective on shares of International Business Machines in a research report on Wednesday, May 7th. 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 given a strong buy rating to the stock. According to data from MarketBeat, International Business Machines currently has an average rating of "Hold" and an average target price of $250.31.

International Business Machines Stock Performance

Shares of IBM stock traded down $4.20 during trading hours on Friday, reaching $276.84. 3,242,911 shares of the company's stock were exchanged, compared to its average volume of 4,232,590. The company has a market cap of $257.29 billion, a P/E ratio of 43.19, a price-to-earnings-growth ratio of 5.81 and a beta of 0.66. International Business Machines Co. has a 1 year low of $167.23 and a 1 year high of $283.06. The company's 50 day moving average is $251.46 and its two-hundred day moving average is $243.34. 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 (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 9.60% and a return on equity of 38.99%. The company's revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the firm earned $1.68 EPS. Equities research analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a $1.68 dividend. 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 2.43%. International Business Machines's dividend payout ratio is 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.