Mechanics Bank Trust Department Has $877,000 Position in International Business Machines Co. (NYSE:IBM)

Mechanics Bank Trust Department increased its position in International Business Machines Co. (NYSE:IBM - Free Report) by 54.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,528 shares of the technology company's stock after buying an additional 1,240 shares during the quarter. Mechanics Bank Trust Department's holdings in International Business Machines were worth $877,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Compass Financial Services Inc purchased a new position in International Business Machines in the fourth quarter valued at about $26,000. Vision Financial Markets LLC purchased a new position in International Business Machines in the fourth quarter valued at about $31,000. Rialto Wealth Management LLC purchased a new position in International Business Machines in the fourth quarter valued at about $35,000. Tacita Capital Inc increased its position in shares of International Business Machines by 174.3% during the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock worth $42,000 after acquiring an additional 122 shares during the last quarter. Finally, Measured Risk Portfolios Inc. purchased a new stake in shares of International Business Machines during the fourth quarter worth about $43,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

International Business Machines stock traded up $1.23 during trading hours on Thursday, hitting $266.75. 2,655,316 shares of the stock were exchanged, compared to its average volume of 4,214,729. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The stock has a market capitalization of $247.92 billion, a P/E ratio of 41.61, a P/E/G ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a 12 month low of $166.80 and a 12 month high of $269.28. The business's 50-day moving average is $247.80 and its two-hundred day moving average is $241.38.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The business 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 firm earned $1.68 earnings per share. International Business Machines's revenue was up .5% compared to the same quarter last year. Equities research analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a $1.68 dividend. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.52%. International Business Machines's dividend payout ratio (DPR) is 115.66%.

Analyst Ratings Changes

IBM has been the topic of a number of analyst reports. Royal Bank of Canada lifted their target price on International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Oppenheimer initiated coverage on International Business Machines in a research report on Tuesday, February 11th. They set an "outperform" rating and a $320.00 target price on the stock. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. BMO Capital Markets reiterated a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, UBS Group reiterated 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. One investment 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 company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $249.06.

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.