First Hawaiian Bank Sells 1,449 Shares of International Business Machines Co. (NYSE:IBM)

First Hawaiian Bank lowered its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 9.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,273 shares of the technology company's stock after selling 1,449 shares during the quarter. First Hawaiian Bank's holdings in International Business Machines were worth $3,549,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tallon Kerry Patrick bought a new stake in International Business Machines during the 4th quarter valued at $902,000. Brighton Jones LLC raised its stake in International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after acquiring an additional 2,323 shares in the last quarter. YHB Investment Advisors Inc. raised its stake in shares of International Business Machines by 11.6% in the 4th quarter. YHB Investment Advisors Inc. now owns 4,549 shares of the technology company's stock worth $1,000,000 after buying an additional 474 shares in the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of International Business Machines by 5.8% in the fourth quarter. Perigon Wealth Management LLC now owns 21,960 shares of the technology company's stock valued at $4,890,000 after buying an additional 1,213 shares during the period. Finally, BSW Wealth Partners lifted its holdings in shares of International Business Machines by 35.4% in the fourth quarter. BSW Wealth Partners now owns 4,548 shares of the technology company's stock valued at $1,000,000 after buying an additional 1,189 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares of the company's stock, valued at approximately $11,387,221.07. This represents a 37.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IBM. Oppenheimer began coverage on International Business Machines in a report on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 price objective for the company. Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. KGI Securities set a $242.00 target price on International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. BMO Capital Markets reaffirmed a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Royal Bank of Canada boosted their target price on International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. One 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. Based on data from MarketBeat.com, International Business Machines has an average rating of "Hold" and a consensus target price of $249.06.

International Business Machines Price Performance

IBM stock traded up $0.19 during midday trading on Friday, reaching $258.88. 9,667,740 shares of the company's stock traded hands, compared to its average volume of 4,225,727. The company has a 50-day simple moving average of $246.37 and a two-hundred day simple moving average of $239.81. International Business Machines Co. has a 1-year low of $163.53 and a 1-year high of $269.28. The company has a market cap of $240.60 billion, a price-to-earnings ratio of 40.39, a PEG ratio of 5.81 and a beta of 0.64. 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 released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The business'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. On average, analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.60%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is 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.