First National Bank Sioux Falls Has $553,000 Position in International Business Machines Co. (NYSE:IBM)

First National Bank Sioux Falls trimmed its position in shares of International Business Machines Co. (NYSE:IBM) by 26.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,225 shares of the technology company’s stock after selling 800 shares during the quarter. First National Bank Sioux Falls’ holdings in International Business Machines were worth $553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Wealthcare Capital Management LLC purchased a new position in International Business Machines during the 1st quarter worth $210,000. Wealthcare Advisory Partners LLC boosted its holdings in International Business Machines by 2.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 19,030 shares of the technology company’s stock worth $4,732,000 after acquiring an additional 422 shares during the last quarter. Octavia Wealth Advisors LLC purchased a new position in International Business Machines during the 1st quarter worth $251,000. International Private Wealth Advisors LLC boosted its holdings in International Business Machines by 4.3% during the 1st quarter. International Private Wealth Advisors LLC now owns 1,651 shares of the technology company’s stock worth $411,000 after acquiring an additional 68 shares during the last quarter. Finally, Tounjian Advisory Partners LLC purchased a new position in International Business Machines during the 1st quarter worth $1,438,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IBM has been the topic of a number of analyst reports. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Bank of America boosted their price target on shares of International Business Machines from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Monday. Royal Bank of Canada boosted their price target on shares of International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. Wall Street Zen downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Finally, Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $250.31.

International Business Machines Trading Up 1.2%

Shares of IBM opened at $272.13 on Tuesday. The business’s 50-day moving average price is $248.62 and its 200-day moving average price is $242.46. International Business Machines Co. has a twelve month low of $166.81 and a twelve month high of $273.66. The stock has a market cap of $252.92 billion, a PE ratio of 42.45, a P/E/G ratio of 5.81 and a beta of 0.66. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

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

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be issued 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 2.47%. International Business Machines’s payout ratio 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.