Sabal Trust CO Increases Stock Holdings in International Business Machines Corporation (NYSE:IBM)

Sabal Trust CO boosted its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 50.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,385 shares of the technology company's stock after purchasing an additional 33,453 shares during the quarter. Sabal Trust CO's holdings in International Business Machines were worth $24,962,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Capital World Investors grew its holdings in shares of International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after purchasing an additional 9,650,534 shares during the last quarter. Norges Bank purchased a new stake in shares of International Business Machines in the 4th quarter valued at about $1,236,176,000. GAMMA Investing LLC boosted its position in shares of International Business Machines by 29,564.2% in the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after purchasing an additional 4,384,958 shares during the period. Raymond James Financial Inc. purchased a new position in International Business Machines during the 4th quarter worth approximately $592,746,000. Finally, Northern Trust Corp increased its position in International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock worth $2,384,275,000 after buying an additional 1,704,209 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wall Street Zen downgraded International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. BMO Capital Markets reissued a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, KGI Securities set a $242.00 price objective on International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. One 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. According to MarketBeat.com, International Business Machines has an average rating of "Hold" and an average target price of $253.75.

International Business Machines Price Performance

IBM traded up $1.43 during trading on Thursday, reaching $292.49. 3,617,544 shares of the stock were exchanged, compared to its average volume of 4,215,335. 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 company has a market capitalization of $271.84 billion, a price-to-earnings ratio of 50.34, a P/E/G ratio of 6.17 and a beta of 0.66. International Business Machines Corporation has a 1 year low of $170.41 and a 1 year high of $296.16. The business's 50 day moving average price is $260.83 and its two-hundred day moving average price is $246.71.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The business's revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.68 EPS. As a group, equities research analysts anticipate that International Business Machines Corporation 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 was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.30%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is currently 115.66%.

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.