New England Research & Management Inc. Has $2.01 Million Stake in International Business Machines Corporation (NYSE:IBM)

New England Research & Management Inc. cut its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 23.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,070 shares of the technology company's stock after selling 2,501 shares during the period. International Business Machines comprises approximately 1.0% of New England Research & Management Inc.'s holdings, making the stock its 27th largest holding. New England Research & Management Inc.'s holdings in International Business Machines were worth $2,007,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IBM. RTD Financial Advisors Inc. bought a new stake in International Business Machines during the 1st quarter worth about $202,000. CVA Family Office LLC lifted its position in shares of International Business Machines by 29.1% during the first quarter. CVA Family Office LLC now owns 2,730 shares of the technology company's stock worth $679,000 after purchasing an additional 615 shares in the last quarter. Tudor Financial Inc. grew its stake in shares of International Business Machines by 46.6% during the first quarter. Tudor Financial Inc. now owns 2,307 shares of the technology company's stock valued at $574,000 after purchasing an additional 733 shares during the last quarter. West Branch Capital LLC increased its holdings in shares of International Business Machines by 92.0% in the first quarter. West Branch Capital LLC now owns 4,426 shares of the technology company's stock valued at $1,101,000 after purchasing an additional 2,121 shares in the last quarter. Finally, Everhart Financial Group Inc. raised its position in International Business Machines by 5.3% in the 1st quarter. Everhart Financial Group Inc. now owns 6,435 shares of the technology company's stock worth $1,600,000 after purchasing an additional 326 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Up 0.4%

Shares of NYSE IBM traded up $1.13 during midday trading on Tuesday, reaching $282.96. 3,067,681 shares of the stock were exchanged, compared to its average volume of 4,234,403. International Business Machines Corporation has a 12 month low of $168.38 and a 12 month high of $284.79. The company has a market capitalization of $262.98 billion, a price-to-earnings ratio of 48.70, a P/E/G ratio of 5.92 and a beta of 0.66. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. The business has a 50-day simple moving average of $254.78 and a two-hundred day simple moving average of $244.55.

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 (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The company's revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.68 earnings per share. As a group, equities research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.37%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is presently 115.66%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on IBM shares. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Wall Street Zen cut International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Royal Bank Of Canada lifted their price objective 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. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, UBS Group reiterated a "sell" rating and set a $170.00 price target (up previously from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. 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's stock. According to MarketBeat, International Business Machines currently has an average rating of "Hold" and a consensus target price of $250.31.

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.