Independence Bank of Kentucky Boosts Stake in International Business Machines Co. (NYSE:IBM)

Independence Bank of Kentucky raised its stake in International Business Machines Co. (NYSE:IBM) by 10.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,055 shares of the technology company’s stock after acquiring an additional 292 shares during the quarter. Independence Bank of Kentucky’s holdings in International Business Machines were worth $583,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Naples Money Management LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth about $28,000. Creekmur Asset Management LLC acquired a new stake in International Business Machines during the fourth quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in International Business Machines in the 4th quarter worth approximately $31,000. Financial Synergies Wealth Advisors Inc. raised its holdings 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 valued at $38,000 after acquiring an additional 123 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of International Business Machines by 54.6% during the 1st quarter. Versant Capital Management Inc now owns 218 shares of the technology company’s stock worth $42,000 after purchasing an additional 77 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on IBM shares. UBS Group lifted their price objective on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research report on Monday, April 22nd. BMO Capital Markets dropped their price objective on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research note 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 on the stock in a research report on Friday, April 26th. Jefferies Financial Group dropped their price target on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. Finally, Wedbush lifted their price target on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus price target of $182.53.

International Business Machines Trading Up 1.2 %

IBM opened at $172.95 on Friday. The firm’s 50 day moving average is $169.95 and its 200-day moving average is $176.48. International Business Machines Co. has a 52-week low of $131.55 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. The firm has a market capitalization of $158.87 billion, a P/E ratio of 19.59, a P/E/G ratio of 4.27 and a beta of 0.72.

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

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date was Thursday, May 9th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

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.