Citizens Business Bank Acquires 216 Shares of International Business Machines Co. (NYSE:IBM)

Citizens Business Bank increased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 11.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,092 shares of the technology company’s stock after purchasing an additional 216 shares during the period. Citizens Business Bank’s holdings in International Business Machines were worth $399,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of IBM. Naples Money Management LLC acquired a new stake in International Business Machines in the 4th quarter valued at approximately $28,000. Creekmur Asset Management LLC acquired a new stake in International Business Machines in the 4th quarter valued at approximately $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in International Business Machines in the 4th quarter valued at approximately $31,000. Stone House Investment Management LLC raised its position in International Business Machines by 971.4% in the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after buying an additional 204 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. raised its position in International Business Machines by 67.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after buying an additional 91 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IBM. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Wedbush lifted their target price on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Morgan Stanley lowered their price target on 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. Bank of America boosted their price target on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Finally, Sanford C. Bernstein boosted their price target on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $182.53.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $172.95 on Monday. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. International Business Machines Co. has a 12 month low of $131.55 and a 12 month high of $199.18. The stock has a 50 day moving average of $169.95 and a 200-day moving average of $176.57. The company 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 0.71.

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, beating the consensus estimate of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 EPS. As a group, equities research analysts predict that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were paid a $1.67 dividend. The ex-dividend date was Thursday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 3.86%. International Business Machines’s payout ratio is 75.65%.

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.