Oakworth Capital Inc. Has $663,000 Position in International Business Machines Corporation (NYSE:IBM)

Oakworth Capital Inc. lifted its position in International Business Machines Corporation (NYSE:IBM) by 16.1% in the first quarter, HoldingsChannel.com reports. The firm owned 2,665 shares of the technology company’s stock after acquiring an additional 370 shares during the period. Oakworth Capital Inc.’s holdings in International Business Machines were worth $663,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in IBM. Capital World Investors lifted its stake in International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after purchasing an additional 9,650,534 shares during the period. Norges Bank bought a new position in shares of International Business Machines during the 4th quarter worth approximately $1,236,176,000. GAMMA Investing LLC boosted its stake in shares of International Business Machines by 29,564.2% in the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock valued at $10,940,520,000 after purchasing an additional 4,384,958 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of International Business Machines in the 4th quarter worth about $592,746,000. Finally, Northern Trust Corp increased its position in shares of International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after purchasing an additional 1,704,209 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Up 0.5%

IBM opened at $292.49 on Friday. The firm’s fifty day moving average is $261.91 and its two-hundred day moving average is $247.14. The firm has a market cap of $271.84 billion, a PE ratio of 50.34, a price-to-earnings-growth ratio of 6.11 and a beta of 0.66. International Business Machines Corporation has a twelve month low of $170.48 and a twelve month high of $296.16. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The business had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. During the same quarter in the previous year, the business posted $1.68 EPS. International Business Machines’s revenue for the quarter was up .5% on a year-over-year basis. Equities research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a dividend of $1.68 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.30%. International Business Machines’s dividend payout ratio is currently 115.66%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Citigroup restated an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. Wall Street Zen cut International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. UBS Group reissued a “sell” rating and set a $170.00 price objective (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Morgan Stanley dropped their target price on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Finally, 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $253.75.

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.