International Business Machines Co. (NYSE:IBM) Shares Sold by Security National Bank

Security National Bank cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 5.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,668 shares of the technology company’s stock after selling 105 shares during the quarter. Security National Bank’s holdings in International Business Machines were worth $319,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of International Business Machines by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock worth $11,515,290,000 after purchasing an additional 365,388 shares during the period. Morgan Stanley boosted its holdings 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 acquiring an additional 1,919,490 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in International Business Machines by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock valued at $1,048,631,000 after acquiring an additional 61,028 shares during the period. Norges Bank purchased a new position in International Business Machines during the 4th quarter valued at about $1,019,009,000. Finally, Dimensional Fund Advisors LP boosted its holdings in International Business Machines by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,500,184 shares of the technology company’s stock valued at $736,015,000 after acquiring an additional 97,482 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

Shares of IBM stock traded down $0.93 during midday trading on Wednesday, hitting $171.67. The company had a trading volume of 1,383,694 shares, compared to its average volume of 4,571,196. The company’s 50 day simple moving average is $170.56 and its 200 day simple moving average is $176.40. International Business Machines Co. has a 52-week low of $130.83 and a 52-week high of $199.18. The stock has a market cap of $157.70 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 4.26 and a beta of 0.72. 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 earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same period last year, the business posted $1.36 EPS. The company’s revenue was up 1.5% on a year-over-year basis. Research analysts anticipate that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were paid a $1.67 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a dividend yield of 3.89%. The ex-dividend date was Thursday, May 9th. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Sanford C. Bernstein raised their target price on International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. Bank of America lifted their price objective on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of International Business Machines in a research note on Wednesday, May 22nd. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Finally, BNP Paribas initiated coverage on International Business Machines in a research report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $182.53.

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.