Stonebridge Capital Management Inc. Has $4.15 Million Holdings in International Business Machines Co. (NYSE:IBM)

Stonebridge Capital Management Inc. raised its stake in International Business Machines Co. (NYSE:IBM) by 1.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,716 shares of the technology company’s stock after purchasing an additional 225 shares during the period. International Business Machines makes up approximately 1.9% of Stonebridge Capital Management Inc.’s holdings, making the stock its 19th biggest position. Stonebridge Capital Management Inc.’s holdings in International Business Machines were worth $4,147,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Naples Money Management LLC bought a new stake in International Business Machines in the fourth quarter valued at about $28,000. Creekmur Asset Management LLC bought a new stake in International Business Machines in the fourth quarter valued at about $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in International Business Machines in the fourth quarter valued at about $31,000. Stone House Investment Management LLC increased its stake in International Business Machines by 971.4% in the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 204 shares during the period. Finally, Financial Gravity Asset Management Inc. increased its stake in International Business Machines by 67.9% in the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 91 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Up 0.3 %

IBM traded up $0.51 during mid-day trading on Thursday, hitting $172.38. The stock had a trading volume of 641,236 shares, compared to its average volume of 4,551,332. The stock’s fifty day simple moving average is $170.56 and its 200-day simple moving average is $176.40. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. The firm has a market capitalization of $158.35 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 4.26 and a beta of 0.72. International Business Machines Co. has a 1-year low of $130.91 and a 1-year high of $199.18.

International Business Machines (NYSE:IBM) last posted its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $14.53 billion. During the same period last year, the business posted $1.36 earnings per share. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, research analysts forecast that International Business Machines Co. will post 9.9 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.88%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend was Thursday, May 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $190.00 target price on shares of International Business Machines in a research note on Thursday, May 16th. Bank of America upped their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Morgan Stanley decreased their price objective on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. JPMorgan Chase & Co. decreased their price objective on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Finally, BNP Paribas began coverage on shares of International Business Machines in a research note on Thursday, May 2nd. They set an “underperform” rating and a $145.00 price objective on the stock. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average price target of $182.53.

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.