First National Trust Co Sells 9,467 Shares of International Business Machines Co. (NYSE:IBM)

First National Trust Co cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 8.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 98,178 shares of the technology company’s stock after selling 9,467 shares during the period. First National Trust Co’s holdings in International Business Machines were worth $16,057,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Naples Money Management LLC acquired a new position in shares of International Business Machines during the fourth quarter worth $28,000. Briaud Financial Planning Inc acquired a new stake in International Business Machines in the third quarter valued at $31,000. Stone House Investment Management LLC increased its holdings in International Business Machines by 971.4% in the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 204 shares during the period. Financial Gravity Asset Management Inc. increased its holdings in International Business Machines by 67.9% in the third 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 period. Finally, Cordant Inc. increased its holdings in International Business Machines by 753.3% in the fourth quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after purchasing an additional 226 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Up 0.6 %

Shares of IBM stock traded up $1.02 on Friday, reaching $165.71. 3,400,405 shares of the company were exchanged, compared to its average volume of 4,768,629. The company has a market cap of $152.22 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 4.08 and a beta of 0.74. The company has a 50-day moving average of $185.75 and a 200-day moving average of $171.01. 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 Co. has a one year low of $120.55 and a one year high of $199.18.

International Business Machines (NYSE:IBM) last announced its quarterly 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 net margin of 13.18% and a return on equity of 40.21%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter last year, the firm earned $1.36 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. Analysts anticipate that International Business Machines Co. will post 9.92 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a $1.67 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date is Thursday, May 9th. This represents a $6.68 annualized dividend and a yield of 4.03%. International Business Machines’s dividend payout ratio (DPR) is presently 75.20%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Wedbush increased their price objective on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. decreased their price target on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Royal Bank of Canada increased their price target on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Stifel Nicolaus reiterated a “buy” rating and set a $190.00 price target on shares of International Business Machines in a report on Wednesday, April 17th. Finally, Evercore ISI upgraded International Business Machines from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $181.29.

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.