Citizens & Northern Corp Sells 1,243 Shares of International Business Machines Corporation (NYSE:IBM)

Citizens & Northern Corp lessened its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 27.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,271 shares of the technology company's stock after selling 1,243 shares during the period. Citizens & Northern Corp's holdings in International Business Machines were worth $813,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. CPA Asset Management LLC acquired a new stake in shares of International Business Machines in the 1st quarter worth about $219,000. Good Steward Wealth Advisors LLC acquired a new stake in shares of International Business Machines in the 1st quarter worth about $371,000. WJ Interests LLC purchased a new stake in International Business Machines in the 1st quarter valued at about $423,000. Clear Point Advisors Inc. purchased a new stake in International Business Machines in the 1st quarter valued at about $221,000. Finally, Walter & Keenan Wealth Management LLC IN ADV increased its stake in International Business Machines by 5.6% in the 1st quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 3,689 shares of the technology company's stock valued at $917,000 after buying an additional 196 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Price Performance

IBM traded up $8.28 during trading on Monday, reaching $289.25. 3,779,323 shares of the company were exchanged, compared to its average volume of 4,221,319. International Business Machines Corporation has a 12-month low of $170.41 and a 12-month high of $291.65. The company's 50-day moving average is $258.71 and its two-hundred day moving average is $246.07. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The company has a market cap of $268.83 billion, a price-to-earnings ratio of 49.78, a P/E/G ratio of 5.90 and a beta of 0.66.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The firm had revenue of $14.54 billion for the quarter, compared to analysts' expectations of $14.41 billion. During the same period in the prior year, the business posted $1.68 earnings per share. The company's revenue was up .5% on a year-over-year basis. Research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a $1.68 dividend. This is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.32%. International Business Machines's dividend payout ratio is currently 115.66%.

Analyst Ratings Changes

Several equities research analysts have commented on IBM shares. Royal Bank Of Canada increased their price objective on shares of International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Wedbush increased their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday. BMO Capital Markets reiterated a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Morgan Stanley decreased their price objective on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, International Business Machines currently has a consensus rating of "Hold" and a consensus price target of $253.75.

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.