Rockland Trust Co. Has $2.51 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Rockland Trust Co. lowered its position in International Business Machines Co. (NYSE:IBM - Free Report) by 14.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,102 shares of the technology company's stock after selling 1,697 shares during the period. Rockland Trust Co.'s holdings in International Business Machines were worth $2,512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of IBM. Ferguson Wellman Capital Management Inc. boosted its position in shares of International Business Machines by 0.8% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 141,448 shares of the technology company's stock worth $35,172,000 after acquiring an additional 1,058 shares during the last quarter. Defined Financial Planning LLC raised its holdings in International Business Machines by 9.8% in the first quarter. Defined Financial Planning LLC now owns 1,548 shares of the technology company's stock valued at $388,000 after acquiring an additional 138 shares in the last quarter. FMB Wealth Management acquired a new position in shares of International Business Machines in the 1st quarter worth approximately $279,000. ForthRight Wealth Management LLC acquired a new position in International Business Machines in the first quarter worth $212,000. Finally, Fifth Third Bancorp increased its stake in International Business Machines by 2.9% during the first quarter. Fifth Third Bancorp now owns 167,613 shares of the technology company's stock valued at $41,679,000 after purchasing an additional 4,699 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

NYSE:IBM traded down $4.20 during mid-day trading on Friday, reaching $276.84. 3,242,911 shares of the stock were exchanged, compared to its average volume of 4,232,590. International Business Machines Co. has a 1-year low of $167.23 and a 1-year high of $283.06. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The business has a fifty day moving average price of $251.46 and a 200 day moving average price of $243.34. The firm has a market capitalization of $257.29 billion, a PE ratio of 43.19, a PEG ratio of 5.81 and a beta of 0.66.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The firm's revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the firm posted $1.68 earnings per share. Research analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a dividend of $1.68 per share. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.43%. International Business Machines's payout ratio is 115.66%.

Analyst Ratings Changes

IBM has been the subject of a number of recent research reports. Bank of America boosted their price objective on shares of International Business Machines from $270.00 to $290.00 and gave the company a "buy" rating in a research report on Monday. KGI Securities set a $242.00 target price on International Business Machines and gave the company a "hold" rating in a report on Thursday, April 24th. Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. UBS Group restated a "sell" rating and set a $170.00 price objective (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Citigroup reissued an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. One equities research 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 an average rating of "Hold" and an average price target 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.