International Business Machines Corporation (NYSE:IBM) Shares Sold by Whittier Trust Co.

Whittier Trust Co. lessened its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,050 shares of the technology company's stock after selling 3,291 shares during the quarter. Whittier Trust Co.'s holdings in International Business Machines were worth $8,716,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its position in shares of International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after purchasing an additional 2,323 shares during the last quarter. Proficio Capital Partners LLC increased its position in shares of International Business Machines by 81.5% during the fourth quarter. Proficio Capital Partners LLC now owns 2,686 shares of the technology company's stock valued at $591,000 after acquiring an additional 1,206 shares during the last quarter. Harbour Investments Inc. increased its position in shares of International Business Machines by 9.8% during the fourth quarter. Harbour Investments Inc. now owns 6,813 shares of the technology company's stock valued at $1,498,000 after acquiring an additional 608 shares during the last quarter. Axxcess Wealth Management LLC increased its holdings in International Business Machines by 7.4% in the 4th quarter. Axxcess Wealth Management LLC now owns 18,981 shares of the technology company's stock valued at $4,173,000 after purchasing an additional 1,315 shares during the last quarter. Finally, RD Lewis Holdings Inc. acquired a new stake in International Business Machines in the 4th quarter valued at approximately $175,000. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Stock Down 0.4%

NYSE IBM traded down $1.02 on Wednesday, hitting $281.68. 2,803,825 shares of the stock were exchanged, compared to its average volume of 4,226,607. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a fifty-two week low of $181.81 and a fifty-two week high of $296.16. The company has a market cap of $261.79 billion, a PE ratio of 48.48, a PEG ratio of 5.96 and a beta of 0.69. The company has a 50-day moving average price of $274.53 and a 200-day moving average price of $252.94.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS 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 the consensus estimate of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The company's revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.68 earnings per share. Sell-side analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.39%. 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%.

Analyst Ratings Changes

Several analysts recently weighed in on IBM shares. Wedbush lifted their target price on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Friday, June 20th. Bank of America lifted their price objective on International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Melius Research raised International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. Stifel Nicolaus lifted their target price on International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, KGI Securities set a $242.00 target price on International Business Machines and gave the company a "hold" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $263.06.

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.