Rockland Trust Co. Has $3.35 Million Stake in International Business Machines Corporation $IBM

Rockland Trust Co. increased its position in shares of International Business Machines Corporation (NYSE:IBM) by 20.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,854 shares of the technology company’s stock after acquiring an additional 1,989 shares during the quarter. Rockland Trust Co.’s holdings in International Business Machines were worth $3,345,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of International Business Machines by 2.1% in the second quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock valued at $28,019,274,000 after buying an additional 1,913,708 shares during the period. State Street Corp boosted its stake in International Business Machines by 0.3% in the 2nd quarter. State Street Corp now owns 54,536,963 shares of the technology company’s stock worth $16,076,406,000 after purchasing an additional 147,721 shares during the period. Geode Capital Management LLC boosted its stake in International Business Machines by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 21,936,235 shares of the technology company’s stock worth $6,444,527,000 after purchasing an additional 400,131 shares during the period. Legal & General Group Plc increased its holdings in International Business Machines by 3.4% during the 2nd quarter. Legal & General Group Plc now owns 7,126,503 shares of the technology company’s stock worth $2,100,751,000 after purchasing an additional 234,318 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of International Business Machines in the second quarter valued at about $2,011,122,000. 58.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on IBM. Evercore upped their price target on International Business Machines from $330.00 to $345.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Oppenheimer set a $380.00 price objective on International Business Machines and gave the stock an “outperform” rating in a research note on Thursday, January 29th. Wedbush raised their target price on shares of International Business Machines from $325.00 to $340.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. boosted their target price on shares of International Business Machines from $312.00 to $317.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Finally, Stifel Nicolaus upped their price target on shares of International Business Machines from $325.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Moderate Buy” and a consensus target price of $330.07.

Insider Buying and Selling at International Business Machines

In other news, Director David N. Farr purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was acquired at an average cost of $304.00 per share, with a total value of $304,000.00. Following the acquisition, the director owned 9,258 shares in the company, valued at approximately $2,814,432. This trade represents a 12.11% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

International Business Machines Trading Down 0.8%

Shares of International Business Machines stock opened at $296.51 on Tuesday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.96 and a quick ratio of 0.92. The business has a fifty day simple moving average of $301.92 and a two-hundred day simple moving average of $283.91. International Business Machines Corporation has a 1 year low of $214.50 and a 1 year high of $324.90. The company has a market capitalization of $277.16 billion, a price-to-earnings ratio of 26.59, a P/E/G ratio of 3.00 and a beta of 0.69.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 28th. The technology company reported $4.52 earnings per share for the quarter, beating the consensus estimate of $4.33 by $0.19. The company had revenue of $19.69 billion for the quarter, compared to analyst estimates of $19.23 billion. International Business Machines had a net margin of 15.69% and a return on equity of 38.15%. The company’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.92 earnings per share. Research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th will be given a $1.68 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $6.72 annualized dividend and a dividend yield of 2.3%. International Business Machines’s dividend payout ratio is presently 60.27%.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.