International Business Machines Co. (NYSE:IBM) Shares Bought by Patten & Patten Inc. TN

Patten & Patten Inc. TN boosted its holdings in International Business Machines Co. (NYSE:IBM) by 7.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,572 shares of the technology company’s stock after acquiring an additional 468 shares during the quarter. Patten & Patten Inc. TN’s holdings in International Business Machines were worth $1,255,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB boosted its position in shares of International Business Machines by 1.7% in the fourth quarter. Nordea Investment Management AB now owns 64,850 shares of the technology company’s stock worth $10,594,000 after buying an additional 1,061 shares during the period. BKM Wealth Management LLC bought a new position in International Business Machines during the fourth quarter valued at approximately $1,476,000. Fortitude Family Office LLC acquired a new stake in International Business Machines in the fourth quarter valued at approximately $78,000. Advisor Resource Council bought a new stake in International Business Machines in the fourth quarter worth approximately $1,315,000. Finally, Sterling Investment Counsel LLC increased its stake in shares of International Business Machines by 12.7% during the 4th quarter. Sterling Investment Counsel LLC now owns 1,997 shares of the technology company’s stock worth $327,000 after purchasing an additional 225 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of IBM stock traded up $0.90 during mid-day trading on Monday, reaching $184.15. The stock had a trading volume of 2,487,860 shares, compared to its average volume of 4,407,102. The firm’s 50 day simple moving average is $172.83 and its 200 day simple moving average is $178.43. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The firm has a market cap of $169.16 billion, a PE ratio of 20.84, a P/E/G ratio of 4.52 and a beta of 0.71. International Business Machines Co. has a one year low of $135.87 and a one year high of $199.18.

International Business Machines (NYSE:IBM) last announced 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 net margin of 13.18% and a return on equity of 40.21%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. During the same quarter in the previous year, the firm posted $1.36 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, analysts forecast that International Business Machines Co. will post 9.89 EPS for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders 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 yield of 3.63%. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date was Thursday, May 9th. International Business Machines’s payout ratio is presently 75.65%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wedbush upped their price objective on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. reduced their target price on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Morgan Stanley reduced their price objective on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Finally, BNP Paribas started coverage on shares of International Business Machines in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.