Farmers & Merchants Investments Inc. Lowers Stake in International Business Machines Co. (NYSE:IBM)

Farmers & Merchants Investments Inc. reduced its holdings in shares of International Business Machines Co. (NYSE:IBM) by 8.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,291 shares of the technology company’s stock after selling 2,794 shares during the period. Farmers & Merchants Investments Inc.’s holdings in International Business Machines were worth $5,784,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of IBM. Norges Bank purchased a new position in International Business Machines in the fourth quarter worth about $1,019,009,000. International Assets Investment Management LLC raised its holdings in International Business Machines by 15,439.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock worth $433,974,000 after buying an additional 2,636,386 shares during the last quarter. Morgan Stanley raised its holdings in International Business Machines by 13.4% in the third quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock worth $2,280,968,000 after buying an additional 1,919,490 shares during the last quarter. Capital Wealth Planning LLC purchased a new position in International Business Machines in the fourth quarter worth about $172,887,000. Finally, Junto Capital Management LP purchased a new position in International Business Machines in the fourth quarter worth about $62,020,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $177.31 on Wednesday. The firm has a 50 day moving average of $169.82 and a 200 day moving average of $176.66. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $162.88 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 4.27 and a beta of 0.71. International Business Machines Co. has a 12-month low of $131.55 and a 12-month high of $199.18.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating 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 the consensus estimate of $14.53 billion. During the same quarter in the previous year, the firm earned $1.36 earnings per share. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, research analysts anticipate that International Business Machines Co. will post 9.9 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were issued a dividend of $1.67 per share. The ex-dividend date was Thursday, May 9th. This represents a $6.68 annualized dividend and a yield of 3.77%. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s payout ratio is currently 75.65%.

Analysts Set New Price Targets

Several research analysts have issued reports on IBM shares. The Goldman Sachs Group started coverage on shares of International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price for the company. Jefferies Financial Group reduced 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 note on Tuesday, April 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of International Business Machines in a research note on Wednesday, May 22nd. Wedbush lifted their price target on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Finally, BNP Paribas initiated 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 for the company. Three 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.com, the company currently 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.