Burke & Herbert Bank & Trust Co. Increases Stock Holdings in International Business Machines Co. (NYSE:IBM)

Burke & Herbert Bank & Trust Co. lifted its stake in shares of International Business Machines Co. (NYSE:IBM) by 229.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,661 shares of the technology company’s stock after buying an additional 5,333 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in International Business Machines were worth $1,325,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. FPC Investment Advisory Inc. purchased a new position in International Business Machines in the first quarter worth $26,000. Naples Money Management LLC purchased a new position in International Business Machines during the fourth quarter worth about $28,000. ESL Trust Services LLC purchased a new position in shares of International Business Machines in the 1st quarter worth about $28,000. Creekmur Asset Management LLC purchased a new position in shares of International Business Machines in the 4th quarter worth about $29,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in International Business Machines during the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Stifel Nicolaus increased their price objective on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. The Goldman Sachs Group assumed coverage on International Business Machines in a research note on Monday, June 24th. They issued a “buy” rating and a $200.00 target price on the stock. Morgan Stanley cut their target price on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. BMO Capital Markets increased their target price on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada increased their target price on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $184.93.

International Business Machines Trading Up 0.8 %

Shares of International Business Machines stock traded up $1.51 on Tuesday, reaching $190.99. The company had a trading volume of 2,149,688 shares, compared to its average volume of 4,383,974. The firm has a market cap of $175.44 billion, a price-to-earnings ratio of 21.53, a P/E/G ratio of 4.24 and a beta of 0.71. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The firm’s 50-day moving average price is $179.14 and its two-hundred day moving average price is $180.84. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $199.18.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter in the previous year, the business earned $2.18 EPS. International Business Machines’s revenue was up 1.9% compared to the same quarter last year. As a group, research analysts predict that International Business Machines Co. will post 10.06 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

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.