Penobscot Investment Management Company Inc. Purchases 515 Shares of International Business Machines Co. (NYSE:IBM)

Penobscot Investment Management Company Inc. boosted its position in International Business Machines Co. (NYSE:IBM) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,628 shares of the technology company’s stock after acquiring an additional 515 shares during the period. Penobscot Investment Management Company Inc.’s holdings in International Business Machines were worth $1,897,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. United Bank boosted its stake in International Business Machines by 53.3% in the third quarter. United Bank now owns 5,628 shares of the technology company’s stock valued at $1,244,000 after acquiring an additional 1,956 shares during the last quarter. Quest Partners LLC boosted its position in shares of International Business Machines by 23,700.0% in the 3rd quarter. Quest Partners LLC now owns 238 shares of the technology company’s stock worth $53,000 after purchasing an additional 237 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of International Business Machines by 23.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 95,529 shares of the technology company’s stock worth $21,120,000 after purchasing an additional 18,340 shares during the period. Davis R M Inc. increased its holdings in International Business Machines by 2.3% in the third quarter. Davis R M Inc. now owns 8,351 shares of the technology company’s stock valued at $1,846,000 after purchasing an additional 186 shares during the last quarter. Finally, Truvestments Capital LLC lifted its stake in International Business Machines by 12.9% in the third quarter. Truvestments Capital LLC now owns 2,577 shares of the technology company’s stock valued at $570,000 after buying an additional 294 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Up 0.6 %

International Business Machines stock opened at $250.01 on Wednesday. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45. The stock has a market capitalization of $231.83 billion, a P/E ratio of 39.00, a PEG ratio of 5.81 and a beta of 0.74. The stock has a 50-day simple moving average of $248.04 and a 200 day simple moving average of $230.76. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

Insider Activity

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on IBM shares. UBS Group boosted their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research note on Monday, January 27th. Wedbush initiated coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. Bank of America upped their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Sanford C. Bernstein lifted their target price on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus target price of $231.44.

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.