Davidson Trust Co. Acquires 179 Shares of International Business Machines Corporation (NYSE:IBM)

Davidson Trust Co. grew its holdings in International Business Machines Corporation (NYSE:IBM) by 6.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 3,162 shares of the technology company’s stock after acquiring an additional 179 shares during the period. Davidson Trust Co.’s holdings in International Business Machines were worth $786,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after purchasing an additional 2,323 shares during the period. Assetmark Inc. grew its position in International Business Machines by 5.7% in the fourth quarter. Assetmark Inc. now owns 40,688 shares of the technology company’s stock valued at $8,944,000 after acquiring an additional 2,210 shares during the period. Proficio Capital Partners LLC grew its position in International Business Machines by 81.5% in 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 period. Cullen Frost Bankers Inc. raised its stake in International Business Machines by 0.3% during the fourth quarter. Cullen Frost Bankers Inc. now owns 84,239 shares of the technology company’s stock worth $18,518,000 after acquiring an additional 231 shares in the last quarter. Finally, Vision Financial Markets LLC bought a new position in shares of International Business Machines during the fourth quarter valued at $31,000. 58.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on IBM shares. Morgan Stanley lowered their target price on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the stock a “hold” rating in a research note on Thursday, April 24th. Bank of America raised their price objective on shares of International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, June 18th. UBS Group reissued a “sell” rating and issued a $170.00 target price (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Jefferies Financial Group restated a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $257.50.

International Business Machines Trading Up 1.4%

IBM stock opened at $291.66 on Friday. 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 twelve month low of $173.95 and a twelve month high of $296.16. The company has a market cap of $271.06 billion, a P/E ratio of 50.20, a PEG ratio of 6.04 and a beta of 0.69. The business has a fifty day moving average of $267.18 and a 200-day moving average of $249.22.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The firm had revenue of $14.54 billion during the quarter, compared to analysts’ expectations of $14.41 billion. During the same period in the previous year, the business posted $1.68 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. As a group, equities research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current 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 paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.30%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is 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.