Farmers Trust Co. Has $9.93 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Farmers Trust Co. trimmed its position in International Business Machines Co. (NYSE:IBM - Free Report) by 13.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,935 shares of the technology company's stock after selling 6,319 shares during the quarter. International Business Machines accounts for approximately 1.9% of Farmers Trust Co.'s portfolio, making the stock its 8th largest holding. Farmers Trust Co.'s holdings in International Business Machines were worth $9,930,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Treasurer of the State of North Carolina boosted its holdings in International Business Machines by 0.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock valued at $108,942,000 after purchasing an additional 4,131 shares during the last quarter. Blue Zone Wealth Advisors LLC acquired a new position in International Business Machines during the 4th quarter worth $242,000. Tranquilli Financial Advisor LLC acquired a new position in International Business Machines during the 4th quarter worth $373,000. Truist Financial Corp increased its position in shares of International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock worth $178,296,000 after purchasing an additional 49,591 shares during the last quarter. Finally, Mufg Securities Americas Inc. acquired a new stake in shares of International Business Machines in the 4th quarter valued at about $3,000,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IBM. Bank of America boosted their price objective on International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Morgan Stanley dropped their price target on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Oppenheimer assumed coverage on International Business Machines in a research note on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price objective on the stock. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Finally, 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 report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $249.06.

Insider Activity

In other news, SVP Robert David Thomas sold 26,543 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the transaction, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.18% of the company's stock.

International Business Machines Stock Performance

IBM stock traded up $0.19 during trading on Friday, reaching $258.88. 9,667,740 shares of the company's stock were exchanged, compared to its average volume of 4,225,756. International Business Machines Co. has a 1-year low of $163.53 and a 1-year high of $269.28. The firm has a market cap of $240.60 billion, a PE ratio of 40.39, a P/E/G ratio of 5.81 and a beta of 0.64. The company's fifty day moving average price is $246.37 and its 200-day moving average price is $239.81. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the previous year, the business earned $1.68 earnings per share. On average, research analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid 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 dividend on an annualized basis and a dividend yield of 2.60%. International Business Machines's dividend 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.