Bell Bank Grows Position in International Business Machines Co. (NYSE:IBM)

Bell Bank raised its position in International Business Machines Co. (NYSE:IBM) by 0.4% during the first quarter, HoldingsChannel.com reports. The firm owned 51,550 shares of the technology company’s stock after buying an additional 185 shares during the quarter. International Business Machines comprises 0.7% of Bell Bank’s investment portfolio, making the stock its 21st biggest position. Bell Bank’s holdings in International Business Machines were worth $12,818,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vision Financial Markets LLC purchased a new position in shares of International Business Machines in the 4th quarter worth about $31,000. Rialto Wealth Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $35,000. Tacita Capital Inc grew its stake in shares of International Business Machines by 174.3% in the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock valued at $42,000 after buying an additional 122 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $43,000. Finally, Measured Risk Portfolios Inc. acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $43,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on IBM. Wedbush reiterated an “outperform” rating and issued a $300.00 target price on shares of International Business Machines in a research note on Wednesday, May 7th. Wall Street Zen lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Bank of America increased their target price on International Business Machines from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, June 9th. Finally, Royal Bank of Canada increased their target price 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. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $250.31.

International Business Machines Price Performance

Shares of IBM opened at $281.66 on Tuesday. The firm has a market cap of $261.77 billion, a price-to-earnings ratio of 43.94, a PEG ratio of 5.81 and a beta of 0.66. The stock has a 50 day moving average of $253.83 and a 200-day moving average of $244.28. 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 52 week low of $167.50 and a 52 week high of $284.50.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS 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 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 business’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm earned $1.68 EPS. As a group, 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 announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a $1.68 dividend. 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 2.39%. International Business Machines’s dividend payout ratio (DPR) is presently 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.