Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Boosts Stake in International Business Machines Corporation (NYSE:IBM)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 18.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,497 shares of the technology company's stock after buying an additional 2,228 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in International Business Machines were worth $3,559,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of IBM. MinichMacGregor Wealth Management LLC acquired a new position in International Business Machines in the 1st quarter valued at about $396,000. Treasurer of the State of North Carolina raised its position in shares of International Business Machines by 0.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock valued at $108,942,000 after buying an additional 4,131 shares during the last quarter. Mufg Securities Americas Inc. acquired a new position in shares of International Business Machines in the fourth quarter valued at approximately $3,000,000. Magnolia Private Wealth LLC purchased a new position in shares of International Business Machines during the first quarter valued at approximately $239,000. Finally, QRG Capital Management Inc. boosted its position in International Business Machines by 7.5% during the fourth quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company's stock worth $33,118,000 after acquiring an additional 10,467 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Stock Up 0.5%

NYSE:IBM opened at $292.49 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. The stock has a 50 day moving average of $261.91 and a 200-day moving average of $247.14. The firm has a market capitalization of $271.84 billion, a PE ratio of 50.34, a price-to-earnings-growth ratio of 6.11 and a beta of 0.66. International Business Machines Corporation has a 52 week low of $170.48 and a 52 week high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $14.41 billion. During the same quarter in the previous year, the firm posted $1.68 EPS. The business's revenue for the quarter was up .5% compared to the same quarter last year. Analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.30%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is 115.66%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IBM. Royal Bank Of Canada increased their price target on International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Wedbush increased their target price on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. UBS Group reissued a "sell" rating and issued a $170.00 price target (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Morgan Stanley dropped 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. Finally, Citigroup reiterated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. 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 MarketBeat.com, International Business Machines currently has a consensus rating of "Hold" and a consensus target price of $253.75.

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.

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