Chesley Taft & Associates LLC Has $5.10 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Chesley Taft & Associates LLC increased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 0.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,498 shares of the technology company’s stock after buying an additional 45 shares during the quarter. Chesley Taft & Associates LLC’s holdings in International Business Machines were worth $5,097,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of International Business Machines by 5.7% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,085 shares of the technology company’s stock valued at $1,764,000 after purchasing an additional 380 shares in the last quarter. Diligent Investors LLC raised its holdings in International Business Machines by 3.4% during the 1st quarter. Diligent Investors LLC now owns 9,136 shares of the technology company’s stock worth $2,272,000 after buying an additional 304 shares during the period. KWB Wealth boosted its holdings in shares of International Business Machines by 4.6% in the first quarter. KWB Wealth now owns 2,341 shares of the technology company’s stock valued at $582,000 after buying an additional 103 shares during the period. Fermata Advisors LLC bought a new stake in shares of International Business Machines during the first quarter worth $204,000. Finally, Naples Global Advisors LLC lifted its position in International Business Machines by 2.2% in the 1st quarter. Naples Global Advisors LLC now owns 16,937 shares of the technology company’s stock valued at $4,212,000 after acquiring an additional 361 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Up 0.1%

Shares of IBM opened at $265.34 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 12 month low of $165.78 and a 12 month high of $269.28. The firm’s 50 day moving average is $247.45 and its 200-day moving average is $240.98. The stock has a market capitalization of $246.61 billion, a PE ratio of 41.39, a P/E/G ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The company’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the company earned $1.68 EPS. Equities research analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given a dividend of $1.68 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.53%. International Business Machines’s dividend payout ratio (DPR) is currently 115.66%.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of research analyst reports. Morgan Stanley dropped their target price on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Royal Bank of Canada upped their price objective on International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Wall Street Zen downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. Oppenheimer began coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target on the stock. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $249.06.

International Business Machines 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.