Field & Main Bank Has $4.18 Million Stock Holdings in International Business Machines Corporation (NYSE:IBM)

Field & Main Bank boosted its position in shares of International Business Machines Corporation (NYSE:IBM) by 2.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,804 shares of the technology company’s stock after purchasing an additional 335 shares during the period. International Business Machines comprises about 1.5% of Field & Main Bank’s investment portfolio, making the stock its 19th biggest position. Field & Main Bank’s holdings in International Business Machines were worth $4,178,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors increased its position in International Business Machines by 413.5% in the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock valued at $2,634,577,000 after acquiring an additional 9,650,534 shares in the last quarter. Norges Bank bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $1,236,176,000. GAMMA Investing LLC grew its stake in shares of International Business Machines by 29,564.2% during the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock valued at $10,940,520,000 after purchasing an additional 4,384,958 shares during the last quarter. Raymond James Financial Inc. bought a new position in International Business Machines in the 4th quarter worth approximately $592,746,000. Finally, Northern Trust Corp lifted its holdings in International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after buying an additional 1,704,209 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $293.89 on Wednesday. The stock’s fifty day simple moving average is $259.78 and its 200 day simple moving average is $246.40. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $273.14 billion, a PE ratio of 50.58, a PEG ratio of 6.07 and a beta of 0.66. International Business Machines Corporation has a 12 month low of $170.41 and a 12 month high of $294.60.

International Business Machines (NYSE:IBM) last released its quarterly 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 37.43% and a net margin of 8.71%. The company had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same quarter last year, the firm posted $1.68 earnings per share. International Business Machines’s revenue was up .5% compared to the same quarter last year. On average, research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 2.29%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is 115.66%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. UBS Group reissued a “sell” rating and issued a $170.00 target price (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. KGI Securities set a $242.00 price objective on International Business Machines and gave the stock a “hold” rating in a report on Thursday, April 24th. Citigroup reaffirmed an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. Finally, Morgan Stanley dropped their price target on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $253.75.

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.