Stock Yards Bank & Trust Co. Purchases 856 Shares of International Business Machines Co. (NYSE:IBM)

Stock Yards Bank & Trust Co. grew its position in shares of International Business Machines Co. (NYSE:IBM) by 3.5% in the 1st quarter, HoldingsChannel reports. The fund owned 25,334 shares of the technology company’s stock after buying an additional 856 shares during the period. Stock Yards Bank & Trust Co.’s holdings in International Business Machines were worth $6,300,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Azzad Asset Management Inc. ADV purchased a new stake in shares of International Business Machines in the first quarter valued at about $5,183,000. RTD Financial Advisors Inc. purchased a new stake in shares of International Business Machines in the first quarter valued at about $202,000. CVA Family Office LLC raised its holdings in shares of International Business Machines by 29.1% in the first quarter. CVA Family Office LLC now owns 2,730 shares of the technology company’s stock valued at $679,000 after purchasing an additional 615 shares during the last quarter. Tudor Financial Inc. raised its holdings in shares of International Business Machines by 46.6% in the first quarter. Tudor Financial Inc. now owns 2,307 shares of the technology company’s stock valued at $574,000 after purchasing an additional 733 shares during the last quarter. Finally, West Branch Capital LLC increased its holdings in International Business Machines by 92.0% during the first quarter. West Branch Capital LLC now owns 4,426 shares of the technology company’s stock worth $1,101,000 after buying an additional 2,121 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Citigroup restated an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. BMO Capital Markets reiterated a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. UBS Group reiterated a “sell” rating and set a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $250.31.

International Business Machines Trading Down 1.5%

Shares of International Business Machines stock opened at $276.84 on Friday. International Business Machines Co. has a 1 year low of $167.23 and a 1 year high of $283.06. The firm has a market cap of $257.29 billion, a PE ratio of 43.19, a PEG ratio of 5.81 and a beta of 0.66. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The company has a 50 day simple moving average of $252.60 and a two-hundred day simple moving average of $243.67.

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

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.43%. International Business Machines’s dividend payout ratio (DPR) is 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.