WASHINGTON TRUST Co Purchases 66 Shares of International Business Machines Co. (NYSE:IBM)

WASHINGTON TRUST Co boosted its position in International Business Machines Co. (NYSE:IBM) by 0.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 13,426 shares of the technology company’s stock after purchasing an additional 66 shares during the period. WASHINGTON TRUST Co’s holdings in International Business Machines were worth $2,952,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in International Business Machines by 20,324.5% in the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after buying an additional 2,702,340 shares during the period. Holocene Advisors LP bought a new stake in shares of International Business Machines in the 3rd quarter valued at $573,306,000. State Street Corp lifted its position in shares of International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after acquiring an additional 1,200,803 shares during the period. KBC Group NV boosted its stake in International Business Machines by 90.4% during the fourth quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after acquiring an additional 800,930 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its holdings in International Business Machines by 23,311.1% in the fourth quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock worth $153,262,000 after purchasing an additional 694,204 shares during the period. Institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the topic of several research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. UBS Group increased their price target on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Oppenheimer assumed coverage on International Business Machines in a report on Tuesday. They set an “outperform” rating and a $320.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Sanford C. Bernstein upped their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $231.44.

International Business Machines Price Performance

International Business Machines stock opened at $260.65 on Friday. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $265.72. The company’s 50 day moving average price is $231.63 and its two-hundred day moving average price is $218.77. The stock has a market cap of $241.01 billion, a P/E ratio of 40.66, a P/E/G ratio of 5.57 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, equities analysts predict that International Business Machines Co. will post 10.75 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.56%. International Business Machines’s payout ratio is currently 104.21%.

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.