International Business Machines Corporation (NYSE:IBM) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its position in shares of International Business Machines Corporation (NYSE:IBM) by 0.3% during the 1st quarter, Holdings Channel.com reports. The fund owned 504,946 shares of the technology company’s stock after selling 1,493 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in International Business Machines were worth $125,560,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Petros Family Wealth LLC lifted its stake in International Business Machines by 3.5% during the 1st quarter. Petros Family Wealth LLC now owns 4,270 shares of the technology company’s stock worth $1,062,000 after acquiring an additional 145 shares in the last quarter. Ledyard National Bank lifted its stake in International Business Machines by 2.8% during the 1st quarter. Ledyard National Bank now owns 16,476 shares of the technology company’s stock worth $4,097,000 after acquiring an additional 444 shares in the last quarter. YHB Investment Advisors Inc. lifted its stake in International Business Machines by 3.4% during the 1st quarter. YHB Investment Advisors Inc. now owns 4,705 shares of the technology company’s stock worth $1,170,000 after acquiring an additional 156 shares in the last quarter. Investment Planning Advisors Inc. acquired a new position in International Business Machines during the 1st quarter worth about $207,000. Finally, Consolidated Portfolio Review Corp lifted its stake in International Business Machines by 8.8% during the 1st quarter. Consolidated Portfolio Review Corp now owns 9,458 shares of the technology company’s stock worth $2,352,000 after acquiring an additional 762 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on IBM shares. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. UBS Group reiterated a “sell” rating and issued a $170.00 price target (up previously from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Wedbush increased their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday. Jefferies Financial Group restated a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $253.75.

International Business Machines Stock Performance

Shares of IBM stock opened at $289.25 on Tuesday. The stock’s 50-day moving average is $258.71 and its two-hundred day moving average is $246.07. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. International Business Machines Corporation has a 1 year low of $170.41 and a 1 year high of $292.95. The firm has a market cap of $268.83 billion, a price-to-earnings ratio of 49.78, a PEG ratio of 5.90 and a beta of 0.66.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The firm had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter last year, the business posted $1.68 EPS. The firm’s quarterly revenue was up .5% compared to the same quarter last year. Analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.32%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is presently 115.66%.

International Business Machines Company 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.