Indiana Trust & Investment Management CO Trims Stock Holdings in International Business Machines Co. (NYSE:IBM)

Indiana Trust & Investment Management CO reduced its stake in International Business Machines Co. (NYSE:IBM) by 4.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,205 shares of the technology company’s stock after selling 135 shares during the quarter. Indiana Trust & Investment Management CO’s holdings in International Business Machines were worth $612,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in IBM. Fifth Third Wealth Advisors LLC raised its holdings in shares of International Business Machines by 127.6% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,891 shares of the technology company’s stock worth $552,000 after purchasing an additional 1,621 shares during the period. Baugh & Associates LLC acquired a new position in shares of International Business Machines in the 1st quarter valued at about $292,000. Congress Park Capital LLC lifted its stake in shares of International Business Machines by 35.2% in the 1st quarter. Congress Park Capital LLC now owns 5,223 shares of the technology company’s stock valued at $997,000 after purchasing an additional 1,360 shares in the last quarter. 180 Wealth Advisors LLC lifted its stake in shares of International Business Machines by 0.5% in the 1st quarter. 180 Wealth Advisors LLC now owns 17,158 shares of the technology company’s stock valued at $3,277,000 after purchasing an additional 87 shares in the last quarter. Finally, Pasadena Private Wealth LLC lifted its stake in shares of International Business Machines by 28.7% in the 1st quarter. Pasadena Private Wealth LLC now owns 2,808 shares of the technology company’s stock valued at $536,000 after purchasing an additional 626 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

Shares of NYSE:IBM traded up $2.10 during trading on Friday, reaching $172.95. 4,193,200 shares of the company’s stock traded hands, compared to its average volume of 4,566,611. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. The company has a 50 day moving average of $170.34 and a 200-day moving average of $176.37. International Business Machines Co. has a 12 month low of $131.55 and a 12 month high of $199.18. The stock has a market capitalization of $158.87 billion, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 4.24 and a beta of 0.72.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter last year, the business posted $1.36 EPS. The business’s revenue was up 1.5% on a year-over-year basis. On average, equities analysts expect that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend was Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BMO Capital Markets decreased their price target on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Bank of America increased their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Wedbush increased their price objective on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Finally, Morgan Stanley dropped their target price on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $182.53.

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.