FineMark National Bank & Trust Has $1.65 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

FineMark National Bank & Trust grew its holdings in International Business Machines Co. (NYSE:IBM) by 6.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,078 shares of the technology company’s stock after purchasing an additional 633 shares during the quarter. FineMark National Bank & Trust’s holdings in International Business Machines were worth $1,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in IBM. WealthPlan Investment Management LLC increased its position in shares of International Business Machines by 220,760.0% during the third quarter. WealthPlan Investment Management LLC now owns 44,172 shares of the technology company’s stock valued at $6,197,000 after acquiring an additional 44,152 shares during the last quarter. Corient Private Wealth LLC increased its position in International Business Machines by 4.0% in the third quarter. Corient Private Wealth LLC now owns 375,461 shares of the technology company’s stock worth $52,680,000 after buying an additional 14,271 shares during the last quarter. NBC Securities Inc. bought a new position in shares of International Business Machines in the third quarter worth $1,737,000. Pinnacle Financial Partners Inc boosted its holdings in shares of International Business Machines by 5.7% in the third quarter. Pinnacle Financial Partners Inc now owns 79,714 shares of the technology company’s stock worth $11,184,000 after acquiring an additional 4,286 shares during the period. Finally, Empower Advisory Group LLC boosted its holdings in shares of International Business Machines by 2.5% in the third quarter. Empower Advisory Group LLC now owns 12,191 shares of the technology company’s stock worth $1,710,000 after acquiring an additional 297 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on IBM shares. JPMorgan Chase & Co. cut their price target on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. UBS Group lifted their price objective on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research note on Monday, April 22nd. Jefferies Financial Group lowered their price target on International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research report on Tuesday, April 23rd. Wedbush lifted their price objective on International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Finally, BNP Paribas started coverage on International Business Machines in a report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average target price of $181.29.

International Business Machines Stock Down 0.1 %

NYSE IBM traded down $0.17 during mid-day trading on Friday, reaching $170.50. The stock had a trading volume of 1,091,893 shares, compared to its average volume of 4,736,427. International Business Machines Co. has a 1 year low of $125.01 and a 1 year high of $199.18. The stock has a market cap of $156.62 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 4.28 and a beta of 0.74. The company has a fifty day moving average price of $179.53 and a 200 day moving average price of $173.71. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. During the same period in the previous year, the business earned $1.36 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, research analysts expect that International Business Machines Co. will post 9.91 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a dividend of $1.67 per share. The ex-dividend date is Thursday, May 9th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a yield of 3.92%. International Business Machines’s payout ratio is currently 75.65%.

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.