Stock Yards Bank & Trust Co. Decreases Holdings in International Business Machines Co. (NYSE:IBM)

Stock Yards Bank & Trust Co. cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 14.0% in the 4th quarter, HoldingsChannel reports. The firm owned 23,982 shares of the technology company’s stock after selling 3,894 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in International Business Machines were worth $3,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in IBM. International Assets Investment Management LLC increased its position in shares of International Business Machines by 15,439.1% during the 4th quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock valued at $433,974,000 after purchasing an additional 2,636,386 shares during the last quarter. Morgan Stanley increased its holdings in International Business Machines by 13.4% in the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock worth $2,280,968,000 after acquiring an additional 1,919,490 shares during the last quarter. California Public Employees Retirement System increased its holdings in International Business Machines by 15.9% in the 3rd quarter. California Public Employees Retirement System now owns 6,345,842 shares of the technology company’s stock worth $890,322,000 after acquiring an additional 871,247 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in International Business Machines by 10.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,691,369 shares of the technology company’s stock worth $1,219,399,000 after acquiring an additional 807,357 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in International Business Machines by 4.2% in the 3rd quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock worth $1,398,886,000 after acquiring an additional 404,948 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on IBM. Sanford C. Bernstein lifted their price objective on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. Societe Generale reissued a “sell” rating and issued a $143.00 price objective on shares of International Business Machines in a report on Friday, January 5th. Bank of America lifted their price objective on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. UBS Group lifted their price objective on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a report on Monday. Finally, Stifel Nicolaus restated a “buy” rating and issued a $190.00 target price on shares of International Business Machines in a research note on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus target price of $174.92.

International Business Machines Stock Performance

Shares of IBM opened at $181.94 on Tuesday. The company has a market cap of $166.79 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 3.57 and a beta of 0.70. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. The stock has a 50-day moving average price of $188.38 and a 200-day moving average price of $169.59. International Business Machines Co. has a 12-month low of $120.55 and a 12-month high of $199.18.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 24th. The technology company reported $3.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.78 by $0.09. The firm had revenue of $17.38 billion during the quarter, compared to the consensus estimate of $17.29 billion. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the company posted $3.60 EPS. As a group, equities analysts forecast that International Business Machines Co. will post 10.04 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were given a dividend of $1.66 per share. The ex-dividend date was Thursday, February 8th. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.65%. International Business Machines’s dividend payout ratio (DPR) is presently 81.67%.

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.