Bangor Savings Bank Reduces Stock Position in International Business Machines Co. (NYSE:IBM)

Bangor Savings Bank reduced its stake in International Business Machines Co. (NYSE:IBM) by 4.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,886 shares of the technology company’s stock after selling 800 shares during the period. International Business Machines makes up about 0.4% of Bangor Savings Bank’s holdings, making the stock its 29th largest holding. Bangor Savings Bank’s holdings in International Business Machines were worth $3,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Compass Financial Services Inc bought a new position in International Business Machines in the 4th quarter worth about $26,000. Vision Financial Markets LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth about $31,000. Rialto Wealth Management LLC bought a new position in shares of International Business Machines in the fourth quarter valued at approximately $35,000. Tacita Capital Inc grew its stake in International Business Machines by 174.3% during the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock valued at $42,000 after acquiring an additional 122 shares in the last quarter. Finally, Measured Risk Portfolios Inc. purchased a new stake in International Business Machines in the 4th quarter worth approximately $43,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on IBM shares. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. KGI Securities set a $242.00 target price on International Business Machines and gave the stock a “hold” rating in a research report on Thursday, April 24th. Oppenheimer began coverage on International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target on the stock. BMO Capital Markets reiterated a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Morgan Stanley decreased 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 report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average target price of $249.06.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $268.95 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a 52-week low of $166.81 and a 52-week high of $270.17. The company has a fifty day moving average of $248.17 and a 200-day moving average of $241.98. The stock has a market capitalization of $249.96 billion, a price-to-earnings ratio of 41.96, a price-to-earnings-growth ratio of 5.81 and a beta of 0.66.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The company’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the business posted $1.68 earnings per share. Equities research analysts expect that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.50%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) is presently 115.66%.

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.