Farmers Trust Co. Sells 6,319 Shares of International Business Machines Co. (NYSE:IBM)

Farmers Trust Co. lowered its stake in shares of International Business Machines Co. (NYSE:IBM) by 13.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,935 shares of the technology company’s stock after selling 6,319 shares during the period. International Business Machines accounts for 1.9% of Farmers Trust Co.’s investment portfolio, making the stock its 8th largest position. Farmers Trust Co.’s holdings in International Business Machines were worth $9,930,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JBR Co Financial Management Inc increased its position in International Business Machines by 0.6% during the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock worth $1,405,000 after buying an additional 40 shares in the last quarter. Wealth Dimensions Group Ltd. increased its position in International Business Machines by 1.0% during the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock worth $873,000 after buying an additional 40 shares in the last quarter. Schechter Investment Advisors LLC increased its position in International Business Machines by 0.7% during the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock worth $1,396,000 after buying an additional 43 shares in the last quarter. Titleist Asset Management LLC increased its position in International Business Machines by 3.1% during the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company’s stock worth $315,000 after buying an additional 43 shares in the last quarter. Finally, Callan Capital LLC increased its position in International Business Machines by 2.4% during the fourth quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock worth $411,000 after buying an additional 44 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Bank of America raised their price target on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Morgan Stanley lowered their price objective on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Wall Street Zen downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Royal Bank of Canada lifted their price objective on International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $249.06.

Insiders Place Their Bets

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

International Business Machines Price Performance

IBM stock opened at $258.80 on Friday. The stock has a 50-day moving average price of $246.19 and a two-hundred day moving average price of $239.48. International Business Machines Co. has a 12-month low of $163.53 and a 12-month high of $269.28. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company has a market cap of $240.53 billion, a PE ratio of 40.37, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter in the previous year, the business earned $1.68 earnings per share. The firm’s quarterly revenue was up .5% compared to the same quarter last year. As a group, research analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.60%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is currently 115.66%.

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.