CoreFirst Bank & Trust Purchases Shares of 2,131 International Business Machines Co. (NYSE:IBM)

CoreFirst Bank & Trust acquired a new position in shares of International Business Machines Co. (NYSE:IBM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,131 shares of the technology company's stock, valued at approximately $468,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. United Bank grew its holdings in International Business Machines by 53.3% during the 3rd quarter. United Bank now owns 5,628 shares of the technology company's stock worth $1,244,000 after acquiring an additional 1,956 shares during the period. Quest Partners LLC increased its holdings in International Business Machines by 23,700.0% in the third quarter. Quest Partners LLC now owns 238 shares of the technology company's stock valued at $53,000 after purchasing an additional 237 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in International Business Machines by 23.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 95,529 shares of the technology company's stock valued at $21,120,000 after buying an additional 18,340 shares during the period. Great Valley Advisor Group Inc. boosted its holdings in International Business Machines by 1.2% during the third quarter. Great Valley Advisor Group Inc. now owns 14,649 shares of the technology company's stock worth $3,239,000 after buying an additional 180 shares during the last quarter. Finally, Summit Trail Advisors LLC grew its position in shares of International Business Machines by 15.9% during the 3rd quarter. Summit Trail Advisors LLC now owns 9,181 shares of the technology company's stock worth $2,030,000 after buying an additional 1,257 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Sanford C. Bernstein increased their price target on shares of International Business Machines from $210.00 to $215.00 and gave the company a "market perform" rating in a research report on Friday, January 3rd. Wedbush began coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an "outperform" rating on the stock. Jefferies Financial Group raised their price objective on International Business Machines from $245.00 to $270.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. Morgan Stanley boosted their target price on International Business Machines from $217.00 to $228.00 and gave the company an "equal weight" rating in a research note on Thursday, January 30th. Finally, Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $231.44.

International Business Machines Stock Down 1.3 %

NYSE:IBM traded down $3.15 on Thursday, hitting $247.19. 1,163,286 shares of the company's stock were exchanged, compared to its average volume of 4,753,234. The company has a market cap of $229.21 billion, a P/E ratio of 38.60, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The firm has a 50-day moving average price of $248.65 and a 200-day moving average price of $230.90. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines's dividend payout ratio (DPR) is currently 104.21%.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now directly owns 45,007 shares of the company's stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company's stock.

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.