Montecito Bank & Trust Boosts Stake in International Business Machines Co. (NYSE:IBM)

Montecito Bank & Trust increased its position in shares of International Business Machines Co. (NYSE:IBM) by 4.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,011 shares of the technology company’s stock after buying an additional 452 shares during the quarter. Montecito Bank & Trust’s holdings in International Business Machines were worth $2,489,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina boosted its stake in shares of International Business Machines by 0.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock worth $108,942,000 after buying an additional 4,131 shares during the period. Blue Zone Wealth Advisors LLC purchased a new stake in International Business Machines during the 4th quarter valued at approximately $242,000. Truist Financial Corp lifted its position in International Business Machines by 6.5% during the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after acquiring an additional 49,591 shares during the period. Mufg Securities Americas Inc. acquired a new stake in International Business Machines during the 4th quarter worth approximately $3,000,000. Finally, Magnolia Private Wealth LLC purchased a new position in shares of International Business Machines in the 1st quarter valued at approximately $239,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the subject of several recent research reports. Wall Street Zen downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. 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. Jefferies Financial Group reissued 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 shares of International Business Machines and gave the company a “hold” rating in a research report on Thursday, April 24th. Finally, Morgan Stanley dropped their target price on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $250.31.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $276.84 on Monday. International Business Machines Co. has a 12 month low of $167.50 and a 12 month high of $283.06. The firm has a market capitalization of $257.29 billion, a price-to-earnings ratio of 43.19, a price-to-earnings-growth ratio of 5.81 and a beta of 0.66. The business’s 50 day simple moving average is $252.60 and its 200-day simple moving average is $243.90. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the previous year, the business earned $1.68 earnings per share. International Business Machines’s quarterly revenue was up .5% compared to the same quarter last year. As a group, equities analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a dividend of $1.68 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.43%. International Business Machines’s dividend payout ratio (DPR) is 115.66%.

About International Business Machines

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.