Bar Harbor Wealth Management Sells 1,819 Shares of International Business Machines Co. (NYSE:IBM)

Bar Harbor Wealth Management lessened its holdings in International Business Machines Co. (NYSE:IBM) by 2.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 75,018 shares of the technology company’s stock after selling 1,819 shares during the period. International Business Machines makes up 1.2% of Bar Harbor Wealth Management’s portfolio, making the stock its 21st biggest position. Bar Harbor Wealth Management’s holdings in International Business Machines were worth $18,654,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of IBM. Tallon Kerry Patrick bought a new stake in International Business Machines in the 4th quarter valued at $902,000. Brighton Jones LLC increased its holdings in International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after buying an additional 2,323 shares during the period. Sovran Advisors LLC bought a new stake in International Business Machines in the 4th quarter valued at $338,000. Certuity LLC grew its position in International Business Machines by 10.0% in the fourth quarter. Certuity LLC now owns 2,187 shares of the technology company’s stock valued at $481,000 after acquiring an additional 199 shares during the period. Finally, TFB Advisors LLC grew its position in International Business Machines by 22.2% in the fourth quarter. TFB Advisors LLC now owns 1,122 shares of the technology company’s stock valued at $247,000 after acquiring an additional 204 shares during the period. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on IBM shares. Wall Street Zen cut International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Bank of America upped their price target on International Business Machines from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Monday. Wedbush reiterated an “outperform” rating and issued a $300.00 price target on shares of International Business Machines in a research report on Wednesday, May 7th. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. Finally, UBS Group reiterated a “sell” rating and issued a $170.00 price target (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $250.31.

International Business Machines Price Performance

Shares of IBM stock opened at $280.69 on Friday. The stock’s fifty day moving average is $251.46 and its 200-day moving average is $243.34. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The stock has a market capitalization of $260.87 billion, a PE ratio of 43.79, a PEG ratio of 5.81 and a beta of 0.66. International Business Machines Co. has a 52 week low of $167.23 and a 52 week high of $283.06.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.68 earnings per share. Equities research analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a $1.68 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.39%. International Business Machines’s dividend payout ratio (DPR) is currently 115.66%.

International Business Machines 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.