International Business Machines Corporation (NYSE:IBM) Shares Acquired by St. Louis Trust Co

St. Louis Trust Co grew its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 32.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 4,632 shares of the technology company’s stock after purchasing an additional 1,132 shares during the period. St. Louis Trust Co’s holdings in International Business Machines were worth $1,152,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of IBM. Wealth Dimensions Group Ltd. grew its stake in shares of International Business Machines by 1.0% in the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock worth $873,000 after acquiring an additional 40 shares during the last quarter. Pallas Capital Advisors LLC raised its holdings in shares of International Business Machines by 0.9% in the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company’s stock valued at $1,195,000 after buying an additional 42 shares during the last quarter. DMC Group LLC raised its holdings in International Business Machines by 1.2% during the 1st quarter. DMC Group LLC now owns 3,517 shares of the technology company’s stock worth $875,000 after purchasing an additional 42 shares during the last quarter. Titleist Asset Management LLC raised its holdings in International Business Machines by 3.1% during the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company’s stock worth $315,000 after purchasing an additional 43 shares during the last quarter. Finally, Range Financial Group LLC raised its holdings in International Business Machines by 0.6% during the 1st quarter. Range Financial Group LLC now owns 7,350 shares of the technology company’s stock worth $1,828,000 after purchasing an additional 43 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IBM. Morgan Stanley decreased their target price on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Royal Bank Of Canada boosted their target price on International Business Machines from $285.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday. Wall Street Zen lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. Finally, Stifel Nicolaus upped their price target on International Business Machines from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $266.19.

International Business Machines Stock Up 1.4%

IBM stock opened at $286.04 on Friday. International Business Machines Corporation has a twelve month low of $181.81 and a twelve month high of $296.16. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The firm has a market cap of $265.85 billion, a PE ratio of 49.23, a price-to-earnings-growth ratio of 5.92 and a beta of 0.69. The business has a 50 day moving average of $276.39 and a 200 day moving average of $254.02.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The business had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same quarter last year, the company earned $1.68 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. On average, research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given 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 2.35%. International Business Machines’s payout ratio 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.