Plimoth Trust Co. LLC Lowers Stake in International Business Machines Co. (NYSE:IBM)

Plimoth Trust Co. LLC reduced its position in International Business Machines Co. (NYSE:IBM) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,949 shares of the technology company’s stock after selling 260 shares during the quarter. Plimoth Trust Co. LLC’s holdings in International Business Machines were worth $3,237,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Naples Money Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at $28,000. Creekmur Asset Management LLC purchased a new position in International Business Machines in the fourth quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in International Business Machines during the 4th quarter worth approximately $31,000. Financial Gravity Asset Management Inc. increased its position in shares of 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 purchasing an additional 91 shares during the last quarter. Finally, Financial Synergies Wealth Advisors Inc. lifted its position in shares of International Business Machines by 164.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after purchasing an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on IBM. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of International Business Machines in a research note on Wednesday, May 22nd. Sanford C. Bernstein raised their price objective on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. Morgan Stanley dropped 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 note on Friday, April 26th. UBS Group increased their price objective on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a report on Monday, April 22nd. Finally, The Goldman Sachs Group assumed coverage on shares of International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 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 given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $182.53.

International Business Machines Stock Performance

NYSE IBM opened at $177.31 on Wednesday. The business’s 50 day moving average is $169.82 and its two-hundred day moving average is $176.66. The stock has a market capitalization of $162.88 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 4.27 and a beta of 0.71. 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.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 EPS 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 firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter last year, the business earned $1.36 earnings per share. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts expect that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

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

International Business Machines Company 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.