Norwood Financial Corp Has $681,000 Stake in International Business Machines Co. (NYSE:IBM)

Norwood Financial Corp increased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 7.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,566 shares of the technology company’s stock after purchasing an additional 240 shares during the quarter. International Business Machines makes up about 1.0% of Norwood Financial Corp’s investment portfolio, making the stock its 22nd biggest holding. Norwood Financial Corp’s holdings in International Business Machines were worth $681,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in IBM. Norges Bank acquired a new stake in International Business Machines in the fourth quarter valued at $1,019,009,000. International Assets Investment Management LLC lifted its stake in International Business Machines by 15,439.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock valued at $433,974,000 after acquiring an additional 2,636,386 shares during the last quarter. Morgan Stanley raised its position in shares of International Business Machines by 13.4% in the third quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after purchasing an additional 1,919,490 shares during the period. Capital Wealth Planning LLC bought a new position in shares of International Business Machines in the fourth quarter valued at about $172,887,000. Finally, Junto Capital Management LP bought a new position in shares of International Business Machines in the fourth quarter valued at about $62,020,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM traded up $2.10 during mid-day trading on Friday, reaching $172.95. The company had a trading volume of 4,058,104 shares, compared to its average volume of 4,566,611. The company’s 50 day simple moving average is $169.95 and its 200 day simple moving average is $176.40. International Business Machines Co. has a 1-year low of $131.55 and a 1-year high of $199.18. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. The company has a market capitalization of $158.87 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 4.24 and a beta of 0.72.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 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 company posted $1.36 EPS. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. Analysts expect that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a dividend of $1.67 per share. The ex-dividend date was Thursday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 3.86%. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IBM. Sanford C. Bernstein increased their price objective on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. The Goldman Sachs Group initiated coverage on shares of International Business Machines in a research report on Monday. They set a “buy” rating and a $200.00 price target on the stock. UBS Group raised their price target on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research report on Monday, April 22nd. Wedbush raised their price target on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Finally, StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus price target 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.