First National Trust Co Sells 9,467 Shares of International Business Machines Co. (NYSE:IBM)

First National Trust Co lowered its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 8.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 98,178 shares of the technology company's stock after selling 9,467 shares during the period. First National Trust Co's holdings in International Business Machines were worth $16,057,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. International Assets Investment Management LLC increased its stake in International Business Machines by 15,439.1% during the 4th quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company's stock valued at $433,974,000 after buying an additional 2,636,386 shares during the period. Morgan Stanley raised its holdings in International Business Machines by 13.4% during the third quarter. Morgan Stanley now owns 16,257,789 shares of the technology company's stock worth $2,280,968,000 after purchasing an additional 1,919,490 shares in the last quarter. California Public Employees Retirement System lifted its position in International Business Machines by 15.9% in the third quarter. California Public Employees Retirement System now owns 6,345,842 shares of the technology company's stock worth $890,322,000 after purchasing an additional 871,247 shares during the period. Northern Trust Corp boosted its stake in International Business Machines by 4.2% during the 3rd quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company's stock valued at $1,398,886,000 after purchasing an additional 404,948 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of International Business Machines by 162.4% during the 3rd quarter. Acadian Asset Management LLC now owns 621,682 shares of the technology company's stock valued at $87,204,000 after purchasing an additional 384,744 shares during the period. Institutional investors own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on IBM shares. Bank of America upped their price objective on International Business Machines from $200.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, March 14th. Evercore ISI upgraded shares of International Business Machines from an "in-line" rating to an "outperform" rating and raised their price objective for the company from $165.00 to $200.00 in a research report on Friday, January 19th. JPMorgan Chase & Co. dropped their target price on shares of International Business Machines from $190.00 to $185.00 and set a "neutral" rating on the stock in a report on Thursday, April 25th. StockNews.com lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday. Finally, Morgan Stanley cut their price objective on International Business Machines from $186.00 to $179.00 and set an "equal weight" rating for the company in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, International Business Machines currently has an average rating of "Hold" and an average target price of $181.29.

International Business Machines Stock Up 0.6 %

Shares of IBM traded up $1.02 during mid-day trading on Friday, reaching $165.71. The company's stock had a trading volume of 3,400,405 shares, compared to its average volume of 4,768,629. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $199.18. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The company has a market cap of $152.22 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74. The business has a fifty day moving average of $185.75 and a 200 day moving average of $171.44.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping analysts' consensus estimates of $1.59 by $0.09. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $1.36 EPS. As a group, analysts forecast that International Business Machines Co. will post 9.92 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Thursday, May 9th. This is a positive change from International Business Machines's previous quarterly dividend of $1.66. International Business Machines's dividend payout ratio is currently 75.20%.

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.