NBT Bank N A NY Buys 7,818 Shares of International Business Machines Corporation $IBM

Key Points

• NBT Bank N A NY increased its IBM stake by 16.9% in the first quarter, buying 7,818 more shares and bringing its total to 54,104 shares worth about $13.1 million.
• Several major firms also added to IBM holdings, and institutional investors now own 58.96% of the stock, underscoring broad professional interest in the company.
• IBM has seen generally positive sentiment from Wall Street, with multiple analysts raising ratings or price targets; the stock also beat earnings expectations last quarter and recently increased its quarterly dividend to $1.69 per share.

NBT Bank N A NY raised its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 16.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,104 shares of the technology company's stock after purchasing an additional 7,818 shares during the period. International Business Machines accounts for approximately 0.9% of NBT Bank N A NY's investment portfolio, making the stock its 26th largest holding. NBT Bank N A NY's holdings in International Business Machines were worth $13,114,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of International Business Machines by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company's stock valued at $28,796,390,000 after buying an additional 1,439,824 shares in the last quarter. State Street Corp lifted its position in International Business Machines by 1.0% during the fourth quarter. State Street Corp now owns 54,996,293 shares of the technology company's stock valued at $16,290,452,000 after acquiring an additional 518,321 shares during the last quarter. Geode Capital Management LLC boosted its stake in International Business Machines by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company's stock valued at $6,679,105,000 after acquiring an additional 336,069 shares in the last quarter. Capital World Investors grew its holdings in International Business Machines by 29.2% in the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company's stock worth $6,523,720,000 after purchasing an additional 4,976,756 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of International Business Machines during the fourth quarter worth $2,446,429,000. 58.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IBM has been the topic of several research analyst reports. Citigroup boosted their target price on International Business Machines from $285.00 to $375.00 and gave the stock a "buy" rating in a research note on Tuesday, June 2nd. HSBC upgraded shares of International Business Machines from a "reduce" rating to a "hold" rating and upped their price objective for the company from $218.00 to $231.00 in a report on Tuesday, April 28th. Needham & Company LLC started coverage on shares of International Business Machines in a research note on Wednesday, June 3rd. They issued a "buy" rating for the company. Morgan Stanley raised shares of International Business Machines from an "equal weight" rating to an "overweight" rating in a report on Tuesday, June 23rd. Finally, Jefferies Financial Group initiated coverage on shares of International Business Machines in a report on Tuesday, June 23rd. They set a "buy" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $306.76.

International Business Machines Stock Performance

IBM opened at $288.95 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. International Business Machines Corporation has a 12-month low of $212.34 and a 12-month high of $332.46. The firm has a 50 day moving average of $256.99 and a two-hundred day moving average of $266.36. The firm has a market capitalization of $271.58 billion, a PE ratio of 25.55, a P/E/G ratio of 3.00 and a beta of 0.68.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.81 by $0.10. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The business had revenue of $15.92 billion for the quarter, compared to the consensus estimate of $15.60 billion. During the same period in the prior year, the firm earned $1.60 EPS. The business's revenue for the quarter was up 9.5% on a year-over-year basis. On average, analysts anticipate that International Business Machines Corporation will post 12.4 EPS for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were paid a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, May 8th. This is an increase from International Business Machines's previous quarterly dividend of $1.68. International Business Machines's dividend payout ratio (DPR) is 59.77%.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.