International Business Machines Co. (NYSE:IBM) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. decreased its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 44.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,805 shares of the technology company's stock after selling 21,496 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in International Business Machines were worth $6,666,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Compass Financial Services Inc acquired a new position in shares of International Business Machines during the 4th quarter worth $26,000. Vision Financial Markets LLC purchased a new position in International Business Machines during the 4th quarter valued at about $31,000. Rialto Wealth Management LLC acquired a new position in International Business Machines during the fourth quarter worth about $35,000. Tacita Capital Inc lifted its holdings in shares of International Business Machines by 174.3% in the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock valued at $42,000 after purchasing an additional 122 shares in the last quarter. Finally, Measured Risk Portfolios Inc. acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 58.96% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on IBM. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. KGI Securities set a $242.00 price objective on International Business Machines and gave the company a "hold" rating in a research report on Thursday, April 24th. Wedbush reiterated an "outperform" rating and set a $300.00 price objective on shares of International Business Machines in a research report on Wednesday, May 7th. Bank of America boosted their target price on shares of International Business Machines from $270.00 to $290.00 and gave the company a "buy" rating in a research note on Monday. Finally, Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of "Hold" and a consensus price target of $250.31.

International Business Machines Trading Down 0.3%

Shares of IBM stock traded down $0.83 on Thursday, reaching $280.69. 3,413,514 shares of the stock were exchanged, compared to its average volume of 4,229,733. 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 stock has a market cap of $260.87 billion, a P/E ratio of 43.79, a price-to-earnings-growth ratio of 5.81 and a beta of 0.66. The firm has a 50 day moving average of $250.36 and a two-hundred day moving average of $242.96. International Business Machines Co. has a 1-year low of $167.23 and a 1-year high of $282.97.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm's revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.68 earnings per share. On average, research analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current 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 given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.39%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is 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.