International Business Machines Corporation (NYSE:IBM) Shares Bought by Bank of Stockton

Bank of Stockton grew its stake in International Business Machines Corporation (NYSE:IBM) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,729 shares of the technology company’s stock after purchasing an additional 61 shares during the quarter. Bank of Stockton’s holdings in International Business Machines were worth $1,176,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of IBM. Vanguard Group Inc. lifted its stake in International Business Machines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock worth $20,189,023,000 after purchasing an additional 1,539,888 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of International Business Machines by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock worth $4,589,145,000 after purchasing an additional 427,499 shares during the period. Capital World Investors lifted its position 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. Northern Trust Corp boosted its holdings 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 valued at $2,384,275,000 after buying an additional 1,704,209 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in International Business Machines by 9.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company’s stock worth $1,783,281,000 after acquiring an additional 722,582 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $291.38 on Thursday. The company has a market capitalization of $270.81 billion, a PE ratio of 50.15, a price-to-earnings-growth ratio of 6.17 and a beta of 0.66. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The stock has a fifty day moving average of $260.83 and a 200-day moving average of $246.71. International Business Machines Corporation has a one year low of $170.41 and a one year high of $296.16.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. International Business Machines’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.68 earnings per share. As a group, equities analysts anticipate that International Business Machines Corporation 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. Stockholders of record on Friday, May 9th were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.31%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is currently 115.66%.

Analysts Set New Price Targets

A number of brokerages have commented on IBM. Citigroup restated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. Morgan Stanley dropped their price objective on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. Bank of America raised their price target on shares of International Business Machines from $290.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, June 18th. Finally, Wedbush lifted their price target on International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, June 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $253.75.

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.