Hemenway Trust Co LLC Buys 314 Shares of International Business Machines Corporation (NYSE:IBM)

Hemenway Trust Co LLC increased its stake in International Business Machines Corporation (NYSE:IBM) by 9.5% during the first quarter, Holdings Channel reports. The firm owned 3,630 shares of the technology company’s stock after acquiring an additional 314 shares during the period. Hemenway Trust Co LLC’s holdings in International Business Machines were worth $903,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital World Investors increased its holdings in 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 valued at $2,634,577,000 after buying an additional 9,650,534 shares during the period. Norges Bank bought a new stake in shares of International Business Machines during the 4th quarter worth approximately $1,236,176,000. GAMMA Investing LLC boosted its position in shares of International Business Machines by 29,564.2% during the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock worth $10,940,520,000 after acquiring an additional 4,384,958 shares in the last quarter. Raymond James Financial Inc. bought a new position in International Business Machines in the fourth quarter valued at approximately $592,746,000. Finally, Northern Trust Corp increased its stake in International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after acquiring an additional 1,704,209 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IBM. UBS Group restated a “sell” rating and set a $170.00 target price (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. KGI Securities set a $242.00 price objective on International Business Machines and gave the stock a “hold” rating in a research report on Thursday, April 24th. Morgan Stanley reduced 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 boosted their target price on International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Finally, Wedbush restated an “outperform” rating and issued a $300.00 price target on shares of International Business Machines in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $250.31.

International Business Machines Stock Up 0.4%

NYSE:IBM opened at $282.96 on Wednesday. International Business Machines Corporation has a one year low of $168.38 and a one year high of $284.79. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. The company has a market cap of $262.98 billion, a PE ratio of 48.70, a P/E/G ratio of 5.92 and a beta of 0.66. The firm’s 50 day simple moving average is $254.78 and its 200 day simple moving average is $244.55.

International Business Machines (NYSE:IBM) last released its quarterly 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 8.71% and a return on equity of 37.43%. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter last year, the firm earned $1.68 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. On average, research analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued 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 yield of 2.37%. International Business Machines’s 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.