Diversified Trust Co Sells 1,219 Shares of International Business Machines Co. (NYSE:IBM)

Diversified Trust Co lessened its holdings in shares of International Business Machines Co. (NYSE:IBM) by 9.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 12,209 shares of the technology company’s stock after selling 1,219 shares during the period. Diversified Trust Co’s holdings in International Business Machines were worth $2,332,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in International Business Machines during the fourth quarter worth $1,019,009,000. International Assets Investment Management LLC raised its position in shares of International Business Machines by 15,439.1% during the fourth quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock valued at $433,974,000 after buying an additional 2,636,386 shares during the last quarter. Morgan Stanley lifted its stake in shares of International Business Machines by 13.4% in the third quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after buying an additional 1,919,490 shares during the period. Capital Wealth Planning LLC acquired a new stake in International Business Machines during the fourth quarter worth about $172,887,000. Finally, Junto Capital Management LP bought a new position in International Business Machines during the fourth quarter valued at about $62,020,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $175.10 on Tuesday. The firm’s 50 day simple moving average is $169.95 and its 200 day simple moving average is $176.57. International Business Machines Co. has a fifty-two week low of $131.55 and a fifty-two week high of $199.18. The company has a market capitalization of $160.85 billion, a price-to-earnings ratio of 19.83, a P/E/G ratio of 4.27 and a beta of 0.71. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09.

International Business Machines (NYSE:IBM) last announced 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 company had revenue of $14.46 billion during the quarter, compared to analyst estimates 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 revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.36 EPS. As a group, sell-side analysts forecast that International Business Machines Co. will post 9.9 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend was Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s payout ratio is 75.65%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on IBM shares. The Goldman Sachs Group began coverage on International Business Machines in a report on Monday, June 24th. They set a “buy” rating and a $200.00 price objective on the stock. 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. Bank of America boosted their price target on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Sanford C. Bernstein raised their price objective 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. Finally, Jefferies Financial Group lowered their target price on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Three 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.