NBT Bank N A NY Increases Stock Holdings in International Business Machines Co. (NYSE:IBM)

NBT Bank N A NY raised its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.6% during the first quarter, Holdings Channel reports. The firm owned 43,511 shares of the technology company’s stock after buying an additional 690 shares during the quarter. NBT Bank N A NY’s holdings in International Business Machines were worth $10,819,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vision Financial Markets LLC purchased a new position in shares of International Business Machines during the fourth quarter valued at about $31,000. Rialto Wealth Management LLC purchased a new position in shares of International Business Machines during the 4th quarter worth approximately $35,000. Tacita Capital Inc raised its position in shares of International Business Machines by 174.3% in the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock worth $42,000 after acquiring an additional 122 shares in the last quarter. Measured Risk Portfolios Inc. purchased a new position in shares of International Business Machines in the 4th quarter valued at approximately $43,000. Finally, Park Square Financial Group LLC bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $43,000. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. KGI Securities set a $242.00 price target on International Business Machines and gave the stock a “hold” rating in a research note on Thursday, April 24th. Wall Street Zen downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. UBS Group reissued a “sell” rating and set a $170.00 price target (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Bank of America upped their price objective on shares of International Business Machines from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Finally, Citigroup reiterated an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned 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 price target of $250.31.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $281.66 on Tuesday. 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 firm has a market cap of $261.77 billion, a price-to-earnings ratio of 43.94, a price-to-earnings-growth ratio of 5.81 and a beta of 0.66. The business has a 50-day simple moving average of $253.83 and a two-hundred day simple moving average of $244.28. International Business Machines Co. has a fifty-two week low of $167.50 and a fifty-two week high of $284.50.

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

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.39%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is 115.66%.

International Business Machines Company 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.