WASHINGTON TRUST Co Increases Stake in International Business Machines Corporation (NYSE:IBM)

by · The Cerbat Gem

WASHINGTON TRUST Co grew its stake in shares of International Business Machines Corporation (NYSE:IBM – Free Report) by 1.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,604 shares of the technology company’s stock after purchasing an additional 178 shares during the quarter. WASHINGTON TRUST Co’s holdings in International Business Machines were worth $3,383,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in IBM. Vision Financial Markets LLC bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $31,000. Rialto Wealth Management LLC bought a new stake in International Business Machines in the fourth quarter valued at $35,000. Tacita Capital Inc increased its position in International Business Machines by 174.3% during the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock valued at $42,000 after purchasing an additional 122 shares during the period. Measured Risk Portfolios Inc. bought a new position in International Business Machines in the 4th quarter worth $43,000. Finally, Park Square Financial Group LLC purchased a new stake in shares of International Business Machines in the 4th quarter worth about $43,000. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on IBM. Royal Bank Of Canada boosted their price target on shares of International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Morgan Stanley lowered their target price on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $253.75.

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International Business Machines Trading Down 0.8%

Shares of NYSE IBM opened at $289.69 on Monday. The firm’s 50 day moving average price is $262.93 and its 200-day moving average price is $247.77. International Business Machines Corporation has a 52-week low of $173.38 and a 52-week high of $296.16. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The company has a market cap of $269.24 billion, a PE ratio of 49.86, a P/E/G ratio of 6.08 and a beta of 0.66.

International Business Machines (NYSE:IBM – Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The business had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same period last year, the business posted $1.68 EPS. The company’s revenue was up .5% compared to the same quarter last year. On average, equities research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a $1.68 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.32%. International Business Machines’s payout ratio is 115.66%.

About International Business Machines

(Free Report)

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.

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