Godsey & Gibb Inc. Has $29 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

Godsey & Gibb Inc. reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 2.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 116,628 shares of the technology company’s stock after selling 3,414 shares during the period. International Business Machines comprises approximately 2.8% of Godsey & Gibb Inc.’s portfolio, making the stock its 5th biggest position. Godsey & Gibb Inc.’s holdings in International Business Machines were worth $29,001,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBM. Capital World Investors boosted its stake in shares of International Business Machines by 413.5% in the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after buying an additional 9,650,534 shares during the last quarter. Norges Bank purchased a new position in shares of International Business Machines in the 4th quarter worth approximately $1,236,176,000. GAMMA Investing LLC boosted its stake in shares of International Business Machines by 29,564.2% in the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock worth $10,940,520,000 after buying an additional 4,384,958 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of International Business Machines in the 4th quarter worth approximately $592,746,000. Finally, Northern Trust Corp boosted its stake in shares of International Business Machines by 18.6% in the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after buying an additional 1,704,209 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IBM. Wedbush restated an “outperform” rating and issued a $300.00 target price on shares of International Business Machines in a research note on Wednesday, May 7th. Morgan Stanley dropped their price objective on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Royal Bank of Canada upped their price objective on International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Finally, UBS Group reiterated a “sell” rating and issued a $170.00 price objective (up previously from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus target price of $249.06.

International Business Machines Trading Up 0.8%

NYSE:IBM opened at $268.95 on Friday. The company has a market cap of $249.96 billion, a P/E ratio of 41.96, a P/E/G ratio of 5.81 and a beta of 0.64. The stock’s fifty day moving average price is $248.17 and its two-hundred day moving average price is $241.79. International Business Machines Co. has a 1 year low of $166.81 and a 1 year high of $270.17. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. The firm had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.68 earnings per share. As a group, analysts expect that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be issued a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.50%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is presently 115.66%.

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.