Old North State Trust LLC Has $1.34 Million Holdings in International Business Machines Co. (NYSE:IBM)

Old North State Trust LLC grew its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 38.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,109 shares of the technology company's stock after purchasing an additional 1,710 shares during the quarter. International Business Machines comprises about 0.9% of Old North State Trust LLC's investment portfolio, making the stock its 27th biggest position. Old North State Trust LLC's holdings in International Business Machines were worth $1,343,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Compass Financial Services Inc acquired a new position in International Business Machines in the 4th quarter valued at $26,000. Vision Financial Markets LLC acquired a new position in International Business Machines in the 4th quarter valued at $31,000. Rialto Wealth Management LLC acquired a new position in International Business Machines in the 4th quarter valued at $35,000. Tacita Capital Inc grew its position in International Business Machines by 174.3% in the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock worth $42,000 after purchasing an additional 122 shares during the last quarter. Finally, Measured Risk Portfolios Inc. acquired a new stake in International Business Machines in the 4th quarter worth $43,000. Institutional investors own 58.96% of the company's stock.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares of the company's stock, valued at approximately $11,387,221.07. This represents a 37.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.18% of the company's stock.

International Business Machines Price Performance

Shares of NYSE IBM traded up $0.19 during trading on Friday, reaching $258.88. The company had a trading volume of 9,667,740 shares, compared to its average volume of 4,225,727. International Business Machines Co. has a 52 week low of $163.53 and a 52 week high of $269.28. The stock has a market cap of $240.60 billion, a PE ratio of 40.39, a PEG ratio of 5.81 and a beta of 0.64. 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 business's 50 day moving average price is $246.37 and its 200-day moving average price is $239.81.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping 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 company had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. During the same quarter in the previous year, the company earned $1.68 EPS. International Business Machines's revenue was up .5% on a year-over-year basis. Analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.60%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is currently 115.66%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wedbush restated an "outperform" rating and issued a $300.00 price target on shares of International Business Machines in a research report on Wednesday, May 7th. Morgan Stanley decreased their target price on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. The Goldman Sachs Group reiterated a "buy" rating on shares of International Business Machines in a research report on Wednesday, February 5th. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus 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.