International Business Machines Co. (NYSE:IBM) Shares Sold by Berkshire Bank

Berkshire Bank lessened its position in shares of International Business Machines Co. (NYSE:IBMFree Report) by 11.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,388 shares of the technology company’s stock after selling 543 shares during the quarter. Berkshire Bank’s holdings in International Business Machines were worth $838,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in International Business Machines by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock valued at $11,515,290,000 after buying an additional 365,388 shares during the period. Morgan Stanley grew its holdings in 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 buying an additional 1,919,490 shares during the period. Northern Trust Corp grew its holdings in International Business Machines by 4.2% in the 3rd quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock valued at $1,398,886,000 after buying an additional 404,948 shares during the period. Charles Schwab Investment Management Inc. grew its holdings 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 buying an additional 61,028 shares during the period. Finally, Norges Bank purchased a new stake in International Business Machines in the 4th quarter valued at about $1,019,009,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE:IBM traded up $3.57 during trading on Tuesday, reaching $173.49. The company had a trading volume of 6,458,964 shares, compared to its average volume of 4,803,409. The firm’s fifty day moving average is $180.44 and its 200 day moving average is $173.73. The firm has a market capitalization of $159.36 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 4.16 and a beta of 0.74. International Business Machines Co. has a twelve month low of $125.01 and a twelve month high of $199.18. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13.

International Business Machines (NYSE:IBMGet Free Report) last issued its quarterly earnings results 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. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. During the same period in the prior year, the business posted $1.36 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, equities analysts forecast that International Business Machines Co. will post 9.91 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be paid a dividend of $1.67 per share. The ex-dividend date is Thursday, May 9th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 3.85%. International Business Machines’s dividend payout ratio is currently 75.65%.

Wall Street Analysts Forecast Growth

Several analysts have commented on IBM shares. JPMorgan Chase & Co. lowered their price target on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of International Business Machines in a research note on Thursday, May 16th. BMO Capital Markets dropped their price objective 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. Wedbush upped their price target on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $190.00 price objective on shares of International Business Machines in a research report on Thursday, May 16th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $181.29.

Read Our Latest Stock Report on IBM

About International Business Machines

(Free Report)

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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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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