Arlington Trust Co LLC Cuts Position in International Business Machines Corporation (NYSE:IBM)

by · The Markets Daily

Arlington Trust Co LLC lessened its stake in International Business Machines Corporation (NYSE:IBM – Free Report) by 37.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,221 shares of the technology company’s stock after selling 725 shares during the period. Arlington Trust Co LLC’s holdings in International Business Machines were worth $304,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. MinichMacGregor Wealth Management LLC bought a new position in International Business Machines during the 1st quarter worth $396,000. Treasurer of the State of North Carolina raised its position in International Business Machines by 0.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock worth $108,942,000 after acquiring an additional 4,131 shares in the last quarter. Mufg Securities Americas Inc. acquired a new stake in International Business Machines during the fourth quarter valued at approximately $3,000,000. Magnolia Private Wealth LLC bought a new stake in shares of International Business Machines during the 1st quarter worth $239,000. Finally, Ferguson Wellman Capital Management Inc. increased its stake in International Business Machines by 0.8% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 141,448 shares of the technology company’s stock worth $35,172,000 after purchasing an additional 1,058 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Down 0.6%

NYSE IBM traded down $1.82 during trading on Wednesday, reaching $289.38. 293,995 shares of the stock traded hands, compared to its average volume of 4,205,457. The stock’s 50-day moving average price is $265.09 and its 200 day moving average price is $248.52. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The firm has a market cap of $268.95 billion, a price-to-earnings ratio of 49.81, a price-to-earnings-growth ratio of 6.19 and a beta of 0.69. International Business Machines Corporation has a fifty-two week low of $173.95 and a fifty-two week high of $296.16.

International Business Machines (NYSE:IBM – Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same quarter last year, the firm posted $1.68 earnings per share. International Business Machines’s revenue was up .5% compared to the same quarter last year. Analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.32%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is 115.66%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on IBM shares. UBS Group reissued a “sell” rating and issued a $170.00 price objective (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. BMO Capital Markets reiterated a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Bank of America raised their price objective on International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, June 18th. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Finally, Wall Street Zen downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $253.75.

Get Our Latest Stock Report on International Business Machines

International Business Machines Profile

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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.

Further Reading

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