Washington Trust Bank Has $398,000 Position in International Business Machines Co. (NYSE:IBM)

Washington Trust Bank raised its holdings in shares of International Business Machines Co. (NYSE:IBM) by 47.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,810 shares of the technology company’s stock after purchasing an additional 586 shares during the quarter. Washington Trust Bank’s holdings in International Business Machines were worth $398,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBM. Compass Financial Services Inc acquired a new stake in shares of International Business Machines during the 4th quarter worth about $26,000. Vision Financial Markets LLC acquired a new stake in International Business Machines during the fourth quarter worth approximately $31,000. Avondale Wealth Management boosted its holdings in shares of International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after acquiring an additional 56 shares during the period. Valued Wealth Advisors LLC grew its position in shares of International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after purchasing an additional 90 shares during the last quarter. Finally, Rialto Wealth Management LLC bought a new position in shares of International Business Machines during the fourth quarter worth approximately $35,000. 58.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Oppenheimer initiated coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target for the company. 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 report on Thursday, January 30th. Sanford C. Bernstein raised their price target on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $231.44.

International Business Machines Price Performance

International Business Machines stock opened at $243.75 on Friday. The stock has a fifty day moving average of $246.77 and a 200-day moving average of $229.71. The stock has a market capitalization of $226.02 billion, a P/E ratio of 38.03, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping the consensus estimate 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, sell-side analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.74%. International Business Machines’s dividend 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.