Bank & Trust Co Purchases New Stake in International Business Machines Co. (NYSE:IBM)

Bank & Trust Co acquired a new position in International Business Machines Co. (NYSE:IBM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 376 shares of the technology company’s stock, valued at approximately $65,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBM. Vanguard Group Inc. grew its holdings in International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after purchasing an additional 5,546,855 shares during the period. Charles Schwab Investment Management Inc. raised its stake in International Business Machines by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock valued at $1,048,631,000 after acquiring an additional 61,028 shares during the period. Norges Bank purchased a new stake in International Business Machines during the fourth quarter valued at about $1,019,009,000. Dimensional Fund Advisors LP boosted its position in International Business Machines by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,500,184 shares of the technology company’s stock worth $736,015,000 after purchasing an additional 97,482 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

IBM stock traded up $3.41 during mid-day trading on Tuesday, hitting $186.72. 3,632,406 shares of the stock were exchanged, compared to its average volume of 4,431,698. The business has a fifty day moving average price of $176.89 and a 200 day moving average price of $180.38. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $199.18. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The stock has a market capitalization of $172.00 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 4.24 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The company had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. International Business Machines’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.18 EPS. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.06 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Friday, August 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Jefferies Financial Group raised their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Morgan Stanley reduced their price target on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. BNP Paribas initiated coverage on International Business Machines in a report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 price objective on the stock. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Finally, UBS Group increased their price target on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $184.93.

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.