Steigerwald Gordon & Koch Inc. Has $24.76 Million Holdings in International Business Machines Co. (NYSE:IBM)

Steigerwald Gordon & Koch Inc. cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 99,591 shares of the technology company’s stock after selling 1,649 shares during the period. International Business Machines comprises approximately 2.8% of Steigerwald Gordon & Koch Inc.’s investment portfolio, making the stock its 13th biggest position. Steigerwald Gordon & Koch Inc.’s holdings in International Business Machines were worth $24,764,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Treasurer of the State of North Carolina increased its holdings in shares of International Business Machines by 0.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock worth $108,942,000 after buying an additional 4,131 shares in the last quarter. Blue Zone Wealth Advisors LLC acquired a new position in shares of International Business Machines during the fourth quarter worth $242,000. Truist Financial Corp increased its holdings in shares of International Business Machines by 6.5% during the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after buying an additional 49,591 shares in the last quarter. Mufg Securities Americas Inc. acquired a new position in shares of International Business Machines during the fourth quarter worth $3,000,000. Finally, QRG Capital Management Inc. increased its holdings in shares of International Business Machines by 7.5% during the fourth quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company’s stock worth $33,118,000 after buying an additional 10,467 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on IBM. Royal Bank of Canada boosted their price objective on shares of International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. UBS Group reissued a “sell” rating and issued a $170.00 price objective (up previously from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Morgan Stanley reduced their price objective on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Finally, Wall Street Zen cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $249.06.

International Business Machines Stock Performance

Shares of IBM opened at $265.34 on Thursday. 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 stock has a market capitalization of $246.61 billion, a P/E ratio of 41.39, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64. The firm’s fifty day simple moving average is $247.45 and its two-hundred day simple moving average is $240.98. International Business Machines Co. has a 12 month low of $165.78 and a 12 month high of $269.28.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. The company had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The business’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.68 EPS. As a group, analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.53%. 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%.

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.