Sunburst Financial Group LLC Has $1.30 Million Stake in International Business Machines Co. (NYSE:IBM)

Sunburst Financial Group LLC reduced its holdings in International Business Machines Co. (NYSE:IBM) by 1.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,823 shares of the technology company’s stock after selling 134 shares during the period. Sunburst Financial Group LLC’s holdings in International Business Machines were worth $1,295,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in International Business Machines by 0.4% during the third quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock worth $11,515,290,000 after acquiring an additional 365,388 shares in the last quarter. Morgan Stanley raised its holdings in shares of International Business Machines by 13.4% in the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after purchasing an additional 1,919,490 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in International Business Machines by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock valued at $1,048,631,000 after purchasing an additional 61,028 shares during the last quarter. Norges Bank bought a new position in International Business Machines during the fourth quarter worth about $1,019,009,000. Finally, Dimensional Fund Advisors LP increased its position in International Business Machines by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,500,184 shares of the technology company’s stock worth $736,015,000 after buying an additional 97,482 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Morgan Stanley reduced their target price on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Bank of America increased their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Stifel Nicolaus reaffirmed a “buy” rating and set a $190.00 target price on shares of International Business Machines in a report on Thursday, May 16th. JPMorgan Chase & Co. lowered their price target on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Finally, Sanford C. Bernstein boosted their price objective on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $182.53.

International Business Machines Price Performance

Shares of IBM traded up $1.49 during trading hours on Friday, hitting $172.34. 568,490 shares of the company were exchanged, compared to its average volume of 4,537,135. 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 Co. has a fifty-two week low of $131.55 and a fifty-two week high of $199.18. The company has a market cap of $158.31 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 4.24 and a beta of 0.72. The firm’s fifty day moving average is $170.34 and its 200 day moving average is $176.37.

International Business Machines (NYSE:IBM) last released its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate 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 period last year, the firm earned $1.36 EPS. On average, equities analysts anticipate that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were paid a dividend of $1.67 per share. The ex-dividend date was Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 3.88%. International Business Machines’s dividend payout ratio is presently 75.65%.

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.