Chevy Chase Trust Holdings LLC Reduces Holdings in International Business Machines Corporation (NYSE:IBM)

Chevy Chase Trust Holdings LLC lowered its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 0.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 504,946 shares of the technology company's stock after selling 1,493 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of International Business Machines worth $125,560,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Dimensions Group Ltd. grew its holdings in shares of International Business Machines by 1.0% during the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock worth $873,000 after buying an additional 40 shares in the last quarter. Pallas Capital Advisors LLC grew its stake in International Business Machines by 0.9% during the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock valued at $1,195,000 after acquiring an additional 42 shares in the last quarter. Schechter Investment Advisors LLC raised its holdings in International Business Machines by 0.7% in the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company's stock valued at $1,396,000 after acquiring an additional 43 shares during the last quarter. Titleist Asset Management LLC boosted its holdings in shares of International Business Machines by 3.1% during the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock worth $315,000 after purchasing an additional 43 shares during the last quarter. Finally, Range Financial Group LLC boosted its holdings in shares of International Business Machines by 0.6% during the 1st quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock worth $1,828,000 after purchasing an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Royal Bank Of Canada raised their price objective on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. 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. Finally, BMO Capital Markets reissued a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $253.75.

International Business Machines Stock Up 1.6%

Shares of IBM traded up $4.71 during mid-day trading on Tuesday, hitting $293.89. 3,993,534 shares of the company's stock were exchanged, compared to its average volume of 4,221,293. The company has a market cap of $273.14 billion, a price-to-earnings ratio of 50.58, a P/E/G ratio of 5.90 and a beta of 0.66. International Business Machines Corporation has a fifty-two week low of $170.41 and a fifty-two week high of $294.31. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The stock's 50-day moving average is $258.71 and its 200-day moving average is $246.07.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The company's revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.68 earnings per share. On average, sell-side analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a dividend of $1.68 per share. 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 2.29%. International Business Machines's 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.