Riverview Trust Co Trims Stock Holdings in International Business Machines Co. (NYSE:IBM)

Riverview Trust Co lowered its position in International Business Machines Co. (NYSE:IBMFree Report) by 17.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,908 shares of the technology company’s stock after selling 400 shares during the quarter. Riverview Trust Co’s holdings in International Business Machines were worth $364,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of IBM. Clearbridge Investments LLC grew its stake in International Business Machines by 5.8% in the third quarter. Clearbridge Investments LLC now owns 34,406 shares of the technology company’s stock worth $4,827,000 after purchasing an additional 1,891 shares in the last quarter. Natixis Advisors L.P. boosted its position in International Business Machines by 18.1% during the 3rd quarter. Natixis Advisors L.P. now owns 372,307 shares of the technology company’s stock valued at $52,235,000 after acquiring an additional 57,170 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in International Business Machines by 51.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 4,540 shares of the technology company’s stock valued at $637,000 after acquiring an additional 1,543 shares in the last quarter. Paragon Private Wealth Management LLC boosted its position in International Business Machines by 14.1% during the 3rd quarter. Paragon Private Wealth Management LLC now owns 4,604 shares of the technology company’s stock valued at $646,000 after acquiring an additional 569 shares in the last quarter. Finally, Operose Advisors LLC boosted its position in International Business Machines by 39.7% during the 3rd quarter. Operose Advisors LLC now owns 6,709 shares of the technology company’s stock valued at $941,000 after acquiring an additional 1,905 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on IBM shares. UBS Group increased their target price on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research report on Monday, April 22nd. The Goldman Sachs Group initiated coverage on International Business Machines in a research report on Monday. They issued a “buy” rating and a $200.00 price objective for the company. Jefferies Financial Group lowered their price objective on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. BMO Capital Markets lowered their price objective on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of International Business Machines in a research report on Wednesday, May 22nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average price target of $182.53.

Check Out Our Latest Report on IBM

International Business Machines Stock Performance

Shares of IBM stock traded down $2.93 on Tuesday, hitting $172.08. The company had a trading volume of 1,331,141 shares, compared to its average volume of 4,575,252. The firm has a market cap of $158.07 billion, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 4.25 and a beta of 0.72. The company has a 50-day moving average price of $170.79 and a 200-day moving average price of $176.33. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. International Business Machines Co. has a twelve month low of $129.31 and a twelve month high of $199.18.

International Business Machines (NYSE:IBMGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 EPS. As a group, equities research analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.88%. The ex-dividend date was Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s payout ratio is 75.65%.

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.

Further Reading

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

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