Central Pacific Bank Trust Division Purchases New Shares in International Business Machines Co. (NYSE:IBM)

Central Pacific Bank Trust Division purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,188 shares of the technology company’s stock, valued at approximately $226,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Rinkey Investments increased its stake in shares of International Business Machines by 4.9% in the 1st quarter. Rinkey Investments now owns 3,855 shares of the technology company’s stock valued at $736,000 after buying an additional 180 shares during the period. Smith Salley Wealth Management increased its stake in shares of International Business Machines by 183.2% in the 1st quarter. Smith Salley Wealth Management now owns 8,822 shares of the technology company’s stock valued at $1,685,000 after buying an additional 5,707 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in shares of International Business Machines by 1.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 29,292 shares of the technology company’s stock valued at $5,594,000 after buying an additional 393 shares during the period. Diversified LLC increased its stake in shares of International Business Machines by 22.2% in the 1st quarter. Diversified LLC now owns 1,565 shares of the technology company’s stock valued at $299,000 after buying an additional 284 shares during the period. Finally, Chase Investment Counsel Corp acquired a new stake in shares of International Business Machines in the 1st quarter valued at $804,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Down 0.7 %

Shares of IBM traded down $1.28 during midday trading on Wednesday, hitting $175.20. The stock had a trading volume of 358,530 shares, compared to its average volume of 4,439,495. The company has a 50 day simple moving average of $170.27 and a two-hundred day simple moving average of $177.29. International Business Machines Co. has a twelve month low of $132.57 and a twelve month high of $199.18. The firm has a market cap of $160.94 billion, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 4.38 and a beta of 0.71. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter last year, the business posted $1.36 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, analysts anticipate that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a $1.67 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.81%. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s payout ratio is currently 75.65%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on IBM shares. Jefferies Financial Group lowered their target price on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. BNP Paribas started coverage on International Business Machines in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price target on the stock. Morgan Stanley reduced their price target on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Stifel Nicolaus restated a “buy” rating and issued a $190.00 price target on shares of International Business Machines in a research report on Thursday, May 16th. Finally, The Goldman Sachs Group started coverage on International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 price target on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $182.53.

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.