2,454 Shares in International Business Machines Co. (NYSE:IBM) Bought by Mechanics Bank Trust Department

Mechanics Bank Trust Department bought a new position in International Business Machines Co. (NYSE:IBM) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,454 shares of the technology company’s stock, valued at approximately $469,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Naples Money Management LLC purchased a new position in International Business Machines in the fourth quarter worth $28,000. Creekmur Asset Management LLC bought a new position in International Business Machines during the 4th quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. bought a new position in International Business Machines during the 4th quarter worth approximately $31,000. Financial Synergies Wealth Advisors Inc. increased its stake in International Business Machines by 164.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after purchasing an additional 123 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of International Business Machines by 54.6% during the first quarter. Versant Capital Management Inc now owns 218 shares of the technology company’s stock valued at $42,000 after purchasing an additional 77 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $172.61 on Wednesday. The stock’s 50-day simple moving average is $170.56 and its 200-day simple moving average is $176.40. The company has a market capitalization of $158.56 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 4.32 and a beta of 0.72. International Business Machines Co. has a 52 week low of $129.31 and a 52 week high of $199.18. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter in the previous year, the company earned $1.36 EPS. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, analysts expect that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were paid a $1.67 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.87%. International Business Machines’s payout ratio is presently 75.65%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. BMO Capital Markets lowered their price target on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. Morgan Stanley decreased their target price on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. JPMorgan Chase & Co. dropped their target price on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. BNP Paribas assumed coverage on shares of International Business Machines in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price target on the stock. Finally, Sanford C. Bernstein lifted their target price on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines has an average rating of “Hold” and an average price target of $182.53.

International Business Machines 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.