Old North State Trust LLC Purchases 1,710 Shares of International Business Machines Co. (NYSE:IBM)

Old North State Trust LLC increased its position in International Business Machines Co. (NYSE:IBM) by 38.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,109 shares of the technology company’s stock after buying an additional 1,710 shares during the quarter. International Business Machines accounts for 0.9% of Old North State Trust LLC’s portfolio, making the stock its 27th largest position. Old North State Trust LLC’s holdings in International Business Machines were worth $1,343,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of IBM. JBR Co Financial Management Inc increased its holdings in shares of International Business Machines by 0.6% in 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 during the period. Wealth Dimensions Group Ltd. increased its stake in International Business Machines by 1.0% in the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock worth $873,000 after purchasing an additional 40 shares during the period. Schechter Investment Advisors LLC lifted its position in International Business Machines by 0.7% in the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock valued at $1,396,000 after purchasing an additional 43 shares during the last quarter. Titleist Asset Management LLC lifted its position in International Business Machines by 3.1% in the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company’s stock valued at $315,000 after purchasing an additional 43 shares during the last quarter. Finally, Callan Capital LLC boosted its stake in shares of International Business Machines by 2.4% during the fourth quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock valued at $411,000 after purchasing an additional 44 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

IBM has been the topic of several analyst reports. Citigroup reaffirmed an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. 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 note on Thursday, January 30th. Morgan Stanley cut their target price on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Jefferies Financial Group restated a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Royal Bank of Canada increased their price objective on International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, International Business Machines has an average rating of “Hold” and a consensus price target of $249.06.

Insider Transactions at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by insiders.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $263.17 on Wednesday. International Business Machines Co. has a 12 month low of $163.53 and a 12 month high of $269.28. The business has a fifty day simple moving average of $245.65 and a two-hundred day simple moving average of $239.02. The firm has a market capitalization of $244.59 billion, a P/E ratio of 41.06, a P/E/G ratio of 5.81 and a beta of 0.64. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results 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. The company had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.68 EPS. On average, equities analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be issued a dividend of $1.68 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.55%. International Business Machines’s dividend payout ratio (DPR) is presently 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.