First National Bank & Trust Co. of Newtown cut its position in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 0.8% during the 4th quarter, Holdings Channel reports. The firm owned 7,030 shares of the technology company’s stock after selling 56 shares during the quarter. First National Bank & Trust Co. of Newtown’s holdings in International Business Machines were worth $1,545,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in IBM. International Assets Investment Management LLC boosted its holdings in International Business Machines by 20,324.5% during the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after purchasing an additional 2,702,340 shares during the last quarter. Holocene Advisors LP purchased a new position in International Business Machines during the third quarter worth about $573,306,000. State Street Corp boosted its holdings in International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. KBC Group NV boosted its holdings 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 purchasing an additional 800,930 shares during the last quarter. Finally, Strategic Financial Concepts LLC boosted its holdings in International Business Machines by 23,311.1% during 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 last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.
International Business Machines Stock Performance
NYSE IBM opened at $263.98 on Thursday. The company’s 50 day moving average is $234.00 and its 200-day moving average is $220.96. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The firm has a market cap of $244.08 billion, a P/E ratio of 41.18, a price-to-earnings-growth ratio of 5.73 and a beta of 0.76. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $265.72.
International Business Machines Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on IBM shares. BMO Capital Markets boosted their target price on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Morgan Stanley boosted their target price on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. boosted their target price on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Jefferies Financial Group boosted their target price on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, UBS Group boosted their target price on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $231.44.
Read Our Latest Research Report on IBM
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.
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