Ferguson Wellman Capital Management Inc. Purchases 1,058 Shares of International Business Machines Co. (NYSE:IBM)

Ferguson Wellman Capital Management Inc. lifted its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 0.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 141,448 shares of the technology company's stock after acquiring an additional 1,058 shares during the quarter. Ferguson Wellman Capital Management Inc.'s holdings in International Business Machines were worth $35,172,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Defined Financial Planning LLC lifted its holdings in shares of International Business Machines by 9.8% in the 1st quarter. Defined Financial Planning LLC now owns 1,548 shares of the technology company's stock worth $388,000 after acquiring an additional 138 shares during the last quarter. FMB Wealth Management bought a new stake in shares of International Business Machines in the 1st quarter worth approximately $279,000. ForthRight Wealth Management LLC purchased a new position in shares of International Business Machines in the first quarter worth $212,000. Fifth Third Bancorp increased its stake in shares of International Business Machines by 2.9% in the first quarter. Fifth Third Bancorp now owns 167,613 shares of the technology company's stock worth $41,679,000 after buying an additional 4,699 shares during the period. Finally, Simon Quick Advisors LLC increased its stake in shares of International Business Machines by 14.5% in the first quarter. Simon Quick Advisors LLC now owns 8,895 shares of the technology company's stock worth $2,212,000 after buying an additional 1,124 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IBM has been the topic of several analyst reports. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a "hold" rating in a research note on Thursday, April 24th. 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 research note on Wednesday, April 23rd. Wedbush reaffirmed an "outperform" rating and issued a $300.00 target price on shares of International Business Machines in a research note on Wednesday, May 7th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Wall Street Zen downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $250.31.

International Business Machines Trading Down 1.5%

International Business Machines stock traded down $4.20 during mid-day trading on Friday, reaching $276.84. 3,242,911 shares of the company traded hands, compared to its average volume of 4,231,454. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The firm's 50 day moving average price is $252.60 and its 200 day moving average price is $243.67. The firm has a market capitalization of $257.29 billion, a price-to-earnings ratio of 43.19, a P/E/G ratio of 5.81 and a beta of 0.66. International Business Machines Co. has a 52-week low of $167.23 and a 52-week high of $283.06.

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, topping analysts' consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion for 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 was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.68 EPS. On average, analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were 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 dividend on an annualized basis and a dividend yield of 2.43%. International Business Machines's dividend payout ratio is currently 115.66%.

About International Business Machines

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.