WASHINGTON TRUST Co Buys 66 Shares of International Business Machines Co. (NYSE:IBM)

WASHINGTON TRUST Co grew its stake in International Business Machines Co. (NYSE:IBM) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,426 shares of the technology company’s stock after acquiring an additional 66 shares during the period. WASHINGTON TRUST Co’s holdings in International Business Machines were worth $2,952,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Marks Group Wealth Management Inc grew its stake in shares of International Business Machines by 0.4% in the fourth quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock valued at $2,292,000 after acquiring an additional 45 shares in the last quarter. Ellenbecker Investment Group grew its position in shares of International Business Machines by 2.3% during the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after purchasing an additional 46 shares in the last quarter. First Affirmative Financial Network increased its holdings in shares of International Business Machines by 1.5% during the fourth quarter. First Affirmative Financial Network now owns 3,123 shares of the technology company’s stock worth $687,000 after purchasing an additional 46 shares during the period. Goldstein Advisors LLC raised its position in shares of International Business Machines by 4.0% in the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after buying an additional 47 shares in the last quarter. Finally, Vertex Planning Partners LLC grew its position in International Business Machines by 3.6% during the third quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock worth $298,000 after buying an additional 47 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IBM. UBS Group lifted their price objective on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. Sanford C. Bernstein increased their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. BMO Capital Markets boosted their target price on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Morgan Stanley upped their price target on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Finally, Bank of America lifted their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Stock Performance

Shares of IBM stock opened at $260.65 on Friday. The firm has a market capitalization of $241.01 billion, a price-to-earnings ratio of 40.66, a PEG ratio of 5.57 and a beta of 0.76. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The business’s 50-day moving average price is $231.63 and its 200-day moving average price is $218.77. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $265.72.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Equities research analysts forecast that International Business Machines Co. will post 10.75 EPS for the current year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

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.