Avalon Trust Co Buys 357 Shares of International Business Machines Co. (NYSE:IBM)

Avalon Trust Co raised its stake in shares of International Business Machines Co. (NYSE:IBM) by 29.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,561 shares of the technology company’s stock after purchasing an additional 357 shares during the quarter. Avalon Trust Co’s holdings in International Business Machines were worth $255,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of International Business Machines by 0.4% during the third quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock valued at $11,515,290,000 after acquiring an additional 365,388 shares during the period. Morgan Stanley lifted its position in International Business Machines by 13.4% during the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after purchasing an additional 1,919,490 shares during the period. Northern Trust Corp boosted its stake in shares of International Business Machines by 4.2% in the 3rd quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock valued at $1,398,886,000 after purchasing an additional 404,948 shares during the last quarter. California Public Employees Retirement System grew its position in shares of International Business Machines by 15.9% during the 3rd quarter. California Public Employees Retirement System now owns 6,345,842 shares of the technology company’s stock worth $890,322,000 after buying an additional 871,247 shares during the period. Finally, International Assets Investment Management LLC raised its stake 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 worth $433,974,000 after buying an additional 2,636,386 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 0.6 %

Shares of NYSE:IBM traded up $1.02 during mid-day trading on Friday, reaching $165.71. 3,400,405 shares of the stock were exchanged, compared to its average volume of 4,768,629. The company has a market cap of $152.22 billion, a P/E ratio of 18.77, a P/E/G ratio of 4.05 and a beta of 0.74. The stock’s 50 day simple moving average is $185.75 and its 200-day simple moving average is $171.01. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. International Business Machines Co. has a one year low of $120.55 and a one year high of $199.18.

International Business Machines (NYSE:IBM) last released its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter last year, the firm earned $1.36 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities research analysts predict that International Business Machines Co. will post 9.92 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be given a dividend of $1.67 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.68 annualized dividend and a dividend yield of 4.03%. International Business Machines’s payout ratio is 75.65%.

Analyst Upgrades and Downgrades

IBM has been the subject of several recent research reports. Evercore ISI upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and upped their target price for the company from $165.00 to $200.00 in a research report on Friday, January 19th. Sanford C. Bernstein boosted their target price 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. Royal Bank of Canada lifted their price objective on shares of International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Jefferies Financial Group lowered their target price 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. Finally, UBS Group lifted their price target on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines has an average rating of “Hold” and a consensus price target of $181.29.

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.