Adirondack Trust Co. Boosts Stock Holdings in International Business Machines Co. (NYSE:IBM)

Adirondack Trust Co. boosted its position in International Business Machines Co. (NYSE:IBM) by 11.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,494 shares of the technology company’s stock after purchasing an additional 852 shares during the period. Adirondack Trust Co.’s holdings in International Business Machines were worth $1,389,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Desjardins Global Asset Management Inc. lifted its position in shares of International Business Machines by 1.4% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock worth $644,000 after purchasing an additional 54 shares during the period. Calamos Wealth Management LLC lifted its position in shares of International Business Machines by 2.8% in the 4th quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock worth $328,000 after purchasing an additional 55 shares during the period. Avion Wealth lifted its position in shares of International Business Machines by 6.2% in the 4th quarter. Avion Wealth now owns 964 shares of the technology company’s stock worth $158,000 after purchasing an additional 56 shares during the period. Chicago Partners Investment Group LLC lifted its position in shares of International Business Machines by 0.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after purchasing an additional 58 shares during the period. Finally, Northwest Capital Management Inc lifted its position in shares of International Business Machines by 5.0% in the 4th quarter. Northwest Capital Management Inc now owns 1,230 shares of the technology company’s stock worth $201,000 after purchasing an additional 59 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the subject of a number of analyst reports. BMO Capital Markets decreased their target price on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. BNP Paribas initiated coverage on shares of International Business Machines in a research report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 target price for the company. Stifel Nicolaus reissued a “buy” rating and set a $190.00 target price on shares of International Business Machines in a research report on Thursday, May 16th. Sanford C. Bernstein increased their target price on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. Finally, Wedbush raised their price target on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $181.29.

International Business Machines Stock Performance

Shares of NYSE:IBM traded down $0.78 during midday trading on Tuesday, reaching $168.72. The company’s stock had a trading volume of 787,354 shares, compared to its average volume of 4,527,703. The firm has a market capitalization of $154.99 billion, a PE ratio of 19.20, a P/E/G ratio of 4.17 and a beta of 0.72. International Business Machines Co. has a twelve month low of $129.18 and a twelve month high of $199.18. The stock has a fifty day moving average of $172.03 and a 200 day moving average of $175.91. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.36 earnings per share. On average, equities analysts expect that International Business Machines Co. will post 9.9 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.96%. The ex-dividend date was 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 (DPR) is currently 75.65%.

International Business Machines 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.