International Business Machines Co. (NYSE:IBM) Shares Acquired by Legacy Private Trust Co.

Legacy Private Trust Co. lifted its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 44.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,425 shares of the technology company's stock after buying an additional 1,355 shares during the quarter. Legacy Private Trust Co.'s holdings in International Business Machines were worth $1,100,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in IBM. Vanguard Group Inc. lifted its stake in shares of International Business Machines by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock worth $20,189,023,000 after purchasing an additional 1,539,888 shares during the last quarter. Geode Capital Management LLC raised its stake in International Business Machines by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company's stock valued at $4,589,145,000 after buying an additional 427,499 shares during the last quarter. Capital World Investors raised its stake in International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after buying an additional 9,650,534 shares during the last quarter. Northern Trust Corp raised its stake in International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after buying an additional 1,704,209 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in International Business Machines by 9.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company's stock valued at $1,783,281,000 after buying an additional 722,582 shares during the last quarter. Institutional investors own 58.96% of the company's stock.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

IBM has been the subject of a number of research analyst reports. Oppenheimer initiated coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 price target for the company. Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Wedbush reiterated an "outperform" rating and issued a $300.00 price target on shares of International Business Machines in a research note on Wednesday, May 7th. Finally, Royal Bank of Canada increased their price target on International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $249.06.

International Business Machines Stock Performance

IBM stock traded up $0.19 during trading on Friday, hitting $258.88. 9,667,740 shares of the company traded hands, compared to its average volume of 4,222,999. The stock's 50-day simple moving average is $246.37 and its 200 day simple moving average is $239.81. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The company has a market cap of $240.60 billion, a PE ratio of 40.39, a P/E/G ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a 1 year low of $163.53 and a 1 year high of $269.28.

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 38.99% and a net margin of 9.60%. The company had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. During the same period last year, the business earned $1.68 earnings per share. International Business Machines's quarterly revenue was up .5% on a year-over-year basis. On average, equities analysts expect that International Business Machines Co. 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 will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be 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 yield of 2.60%. International Business Machines's dividend payout ratio (DPR) is presently 115.66%.

About International Business Machines

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.