Plimoth Trust Co. LLC Has $3.08 Million Position in International Business Machines Corporation (NYSE:IBM)

Plimoth Trust Co. LLC reduced its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 24.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,370 shares of the technology company's stock after selling 4,112 shares during the quarter. Plimoth Trust Co. LLC's holdings in International Business Machines were worth $3,076,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of IBM. Sterling Investment Counsel LLC raised its stake in International Business Machines by 68.9% during the 1st quarter. Sterling Investment Counsel LLC now owns 2,741 shares of the technology company's stock worth $682,000 after buying an additional 1,118 shares during the period. Global X Japan Co. Ltd. grew its stake in International Business Machines by 14.7% in the first quarter. Global X Japan Co. Ltd. now owns 2,925 shares of the technology company's stock valued at $727,000 after acquiring an additional 374 shares during the period. Premier Path Wealth Partners LLC increased its holdings in shares of International Business Machines by 2.1% in the first quarter. Premier Path Wealth Partners LLC now owns 5,673 shares of the technology company's stock worth $1,411,000 after acquiring an additional 118 shares in the last quarter. Johnson Investment Counsel Inc. raised its position in shares of International Business Machines by 1.5% during the first quarter. Johnson Investment Counsel Inc. now owns 39,905 shares of the technology company's stock worth $9,923,000 after purchasing an additional 604 shares during the period. Finally, Grandview Asset Management LLC lifted its holdings in shares of International Business Machines by 0.9% during the 1st quarter. Grandview Asset Management LLC now owns 5,455 shares of the technology company's stock valued at $1,356,000 after purchasing an additional 46 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on IBM. Wall Street Zen cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. KGI Securities set a $242.00 price target on International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Wedbush reissued an "outperform" rating and issued a $300.00 target price on shares of International Business Machines in a research note on Wednesday, May 7th. Finally, UBS Group restated a "sell" rating and set a $170.00 target price (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $252.19.

International Business Machines Stock Performance

Shares of International Business Machines stock traded up $0.10 on Thursday, hitting $283.15. The stock had a trading volume of 3,531,800 shares, compared to its average volume of 4,234,994. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The business's 50 day moving average is $255.73 and its two-hundred day moving average is $244.81. International Business Machines Corporation has a twelve month low of $170.41 and a twelve month high of $286.91. The stock has a market cap of $263.16 billion, a price-to-earnings ratio of 48.74, a price-to-earnings-growth ratio of 5.94 and a beta of 0.66.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The firm had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same quarter in the prior year, the business posted $1.68 EPS. The business's revenue was up .5% compared to the same quarter last year. Analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

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

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.