Pinnacle Financial Partners Inc Trims Stake in International Business Machines Corporation (NYSE:IBM)

Pinnacle Financial Partners Inc cut its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,034 shares of the technology company's stock after selling 890 shares during the period. Pinnacle Financial Partners Inc's holdings in International Business Machines were worth $25,571,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Capital World Investors grew its position in International Business Machines by 413.5% in the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. Norges Bank purchased a new position in shares of International Business Machines in the 4th quarter worth approximately $1,236,176,000. GAMMA Investing LLC grew its holdings in shares of International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after acquiring an additional 4,384,958 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of International Business Machines during the fourth quarter valued at approximately $592,746,000. Finally, Northern Trust Corp lifted its holdings in International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock worth $2,384,275,000 after acquiring an additional 1,704,209 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wedbush raised their target price on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. The Goldman Sachs Group raised their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday. Wall Street Zen lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Finally, Morgan Stanley lowered their price target on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given 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 $257.50.

International Business Machines Stock Performance

Shares of NYSE IBM traded up $3.78 during mid-day trading on Thursday, hitting $291.43. The company had a trading volume of 1,833,146 shares, compared to its average volume of 4,212,759. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a 1 year low of $173.95 and a 1 year high of $296.16. The company has a market capitalization of $270.85 billion, a price-to-earnings ratio of 50.09, a P/E/G ratio of 6.11 and a beta of 0.69. The stock's 50-day moving average price is $265.93 and its 200-day moving average price is $248.79.

International Business Machines (NYSE:IBM - Get Free Report) last issued its 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. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The business had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter last year, the company earned $1.68 EPS. The firm's revenue was up .5% compared to the same quarter last year. On average, sell-side analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.31%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend 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.