Perkins Coie Trust Co Has $4.59 Million Position in International Business Machines Co. (NYSE:IBM)

Perkins Coie Trust Co lessened its position in shares of International Business Machines Co. (NYSE:IBM) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,443 shares of the technology company’s stock after selling 475 shares during the quarter. Perkins Coie Trust Co’s holdings in International Business Machines were worth $4,586,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Piscataqua Savings Bank lifted its stake in shares of International Business Machines by 12.8% during the first quarter. Piscataqua Savings Bank now owns 3,398 shares of the technology company’s stock valued at $845,000 after acquiring an additional 385 shares during the period. Persium Advisors LLC increased its holdings in International Business Machines by 2.3% in the first quarter. Persium Advisors LLC now owns 3,160 shares of the technology company’s stock valued at $786,000 after purchasing an additional 72 shares during the last quarter. Holland Advisory Services Inc. increased its holdings in International Business Machines by 12.0% in the first quarter. Holland Advisory Services Inc. now owns 1,445 shares of the technology company’s stock valued at $359,000 after purchasing an additional 155 shares during the last quarter. Intergy Private Wealth LLC increased its holdings in International Business Machines by 1.3% in the first quarter. Intergy Private Wealth LLC now owns 4,746 shares of the technology company’s stock valued at $1,180,000 after purchasing an additional 61 shares during the last quarter. Finally, Gateway Investment Advisers LLC increased its holdings in International Business Machines by 634.4% in the first quarter. Gateway Investment Advisers LLC now owns 40,401 shares of the technology company’s stock valued at $10,046,000 after purchasing an additional 34,900 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on IBM shares. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. KGI Securities set a $242.00 price objective on International Business Machines and gave the company a “hold” rating in a report on Thursday, April 24th. Wall Street Zen downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Oppenheimer initiated coverage on International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective for the company. Finally, UBS Group restated a “sell” rating and issued a $170.00 price target (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, International Business Machines has an average rating of “Hold” and an average price target of $249.06.

International Business Machines Stock Up 0.8%

IBM stock opened at $268.95 on Friday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The stock has a market capitalization of $249.96 billion, a P/E ratio of 41.96, a P/E/G ratio of 5.81 and a beta of 0.64. The business has a 50-day moving average of $248.17 and a 200-day moving average of $241.79. International Business Machines Co. has a fifty-two week low of $166.81 and a fifty-two week high of $270.17.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to analysts’ expectations of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. International Business Machines’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.68 earnings per share. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.50%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is currently 115.66%.

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.