International Business Machines Co. (NYSE:IBM) Shares Sold by Trust Point Inc.

Trust Point Inc. lessened its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 20.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,823 shares of the technology company's stock after selling 2,227 shares during the quarter. Trust Point Inc.'s holdings in International Business Machines were worth $2,194,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in IBM. Rebalance LLC raised its stake in International Business Machines by 135.9% in the 1st quarter. Rebalance LLC now owns 4,423 shares of the technology company's stock valued at $1,100,000 after purchasing an additional 2,548 shares during the last quarter. Trust Co. of Toledo NA OH raised its stake in International Business Machines by 7.7% in the 1st quarter. Trust Co. of Toledo NA OH now owns 17,853 shares of the technology company's stock valued at $4,439,000 after purchasing an additional 1,275 shares during the last quarter. Morton Capital Management LLC CA raised its stake in International Business Machines by 6.3% in the 1st quarter. Morton Capital Management LLC CA now owns 2,059 shares of the technology company's stock valued at $512,000 after purchasing an additional 122 shares during the last quarter. Optas LLC raised its stake in International Business Machines by 3.9% in the 1st quarter. Optas LLC now owns 2,696 shares of the technology company's stock valued at $670,000 after purchasing an additional 100 shares during the last quarter. Finally, D Orazio & Associates Inc. raised its stake in International Business Machines by 2.6% in the 1st quarter. D Orazio & Associates Inc. now owns 2,934 shares of the technology company's stock valued at $730,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on IBM. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Citigroup restated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. UBS Group restated a "sell" rating and issued a $170.00 price target (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, Royal Bank of Canada lifted their price target on International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $250.31.

International Business Machines Stock Down 1.5%

NYSE IBM opened at $276.84 on Monday. The stock has a market cap of $257.29 billion, a PE ratio of 43.19, a P/E/G ratio of 5.81 and a beta of 0.66. International Business Machines Co. has a fifty-two week low of $167.50 and a fifty-two week high of $283.06. The business has a 50 day moving average price of $252.60 and a two-hundred day moving average price of $243.90. 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 quarterly 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 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%. International Business Machines's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.68 EPS. As a group, sell-side analysts predict 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 was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.43%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is currently 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.

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