Webster Bank N. A. Has $1.16 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Webster Bank N. A. cut its holdings in International Business Machines Co. (NYSE:IBMGet Rating) by 1.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,953 shares of the technology company’s stock after selling 174 shares during the period. Webster Bank N. A.’s holdings in International Business Machines were worth $1,164,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Carret Asset Management LLC increased its holdings in shares of International Business Machines by 2.0% during the first quarter. Carret Asset Management LLC now owns 23,955 shares of the technology company’s stock worth $3,115,000 after purchasing an additional 461 shares during the period. Cantor Fitzgerald Investment Advisor L.P increased its stake in International Business Machines by 97.6% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 257,335 shares of the technology company’s stock worth $33,459,000 after acquiring an additional 127,093 shares during the period. MCIA Inc raised its holdings in International Business Machines by 2.3% in the 1st quarter. MCIA Inc now owns 13,345 shares of the technology company’s stock valued at $1,686,000 after acquiring an additional 294 shares in the last quarter. Pacifica Partners Inc. lifted its position in shares of International Business Machines by 28.8% during the 1st quarter. Pacifica Partners Inc. now owns 926 shares of the technology company’s stock valued at $115,000 after acquiring an additional 207 shares during the period. Finally, CCG Wealth Management LLC acquired a new stake in shares of International Business Machines during the 1st quarter worth $222,000. 55.22% of the stock is currently owned by institutional investors and hedge funds.

Shares of IBM stock opened at $137.08 on Thursday. International Business Machines Co. has a twelve month low of $114.56 and a twelve month high of $147.50. The stock’s fifty day simple moving average is $135.37 and its 200 day simple moving average is $131.54. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 2.44. The firm has a market capitalization of $123.29 billion, a P/E ratio of 22.47, a P/E/G ratio of 1.55 and a beta of 1.00.

International Business Machines (NYSE:IBMGet Rating) last released its quarterly earnings results on Tuesday, April 19th. The technology company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. The company had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $13.84 billion. International Business Machines had a return on equity of 42.14% and a net margin of 8.21%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.77 earnings per share. As a group, equities research analysts expect that International Business Machines Co. will post 9.89 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th were paid a dividend of $1.65 per share. The ex-dividend date of this dividend was Monday, May 9th. This represents a $6.60 annualized dividend and a dividend yield of 4.81%. This is an increase from International Business Machines’s previous quarterly dividend of $1.64. International Business Machines’s dividend payout ratio (DPR) is presently 108.20%.

A number of equities research analysts have issued reports on IBM shares. BMO Capital Markets increased their price objective on shares of International Business Machines from $148.00 to $152.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 20th. Morgan Stanley increased their price target on shares of International Business Machines from $150.00 to $157.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 20th. Tigress Financial lifted their price objective on shares of International Business Machines from $133.00 to $139.00 and gave the company a “neutral” rating in a research note on Thursday, April 21st. Credit Suisse Group upped their target price on International Business Machines from $165.00 to $166.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 20th. Finally, Bank of America lifted their price target on International Business Machines from $162.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, April 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $147.25.

In related news, major shareholder Business Machine International sold 22,301,536 shares of the business’s stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $13.95, for a total value of $311,106,427.20. Following the sale, the insider now owns 22,301,536 shares of the company’s stock, valued at $311,106,427.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.04% of the stock is currently owned by insiders.

International Business Machines Company Profile (Get Rating)

International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.

Further Reading

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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