657 Shares in International Business Machines Co. (NYSE:IBM) Acquired by New Covenant Trust Company N.A.

New Covenant Trust Company N.A. purchased a new position in International Business Machines Co. (NYSE:IBM) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 657 shares of the technology company’s stock, valued at approximately $125,000.

A number of other large investors also recently added to or reduced their stakes in the business. iA Global Asset Management Inc. purchased a new position in International Business Machines in the 1st quarter worth approximately $663,000. Beacon Capital Management LLC raised its holdings in shares of International Business Machines by 41.6% during the 1st quarter. Beacon Capital Management LLC now owns 2,411 shares of the technology company’s stock worth $460,000 after acquiring an additional 708 shares in the last quarter. Coppell Advisory Solutions Corp. purchased a new stake in shares of International Business Machines during the 1st quarter worth approximately $224,000. California State Teachers Retirement System raised its holdings in shares of International Business Machines by 1.2% during the 1st quarter. California State Teachers Retirement System now owns 1,503,981 shares of the technology company’s stock worth $287,200,000 after acquiring an additional 17,715 shares in the last quarter. Finally, Global Financial Private Client LLC raised its holdings in shares of International Business Machines by 33.4% during the 1st quarter. Global Financial Private Client LLC now owns 6,897 shares of the technology company’s stock worth $1,309,000 after acquiring an additional 1,727 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

Shares of NYSE:IBM traded down $2.48 during trading on Thursday, hitting $189.66. 4,065,862 shares of the company traded hands, compared to its average volume of 4,432,658. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The business’s fifty day moving average is $176.28 and its 200-day moving average is $179.91. The stock has a market capitalization of $174.22 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 4.27 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 released its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the prior year, the firm posted $2.18 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities analysts predict that International Business Machines Co. will post 10.06 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IBM. Wedbush upped their price objective on International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. BMO Capital Markets upped their price objective on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. BNP Paribas initiated coverage on International Business Machines in a report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 price objective on the stock. Morgan Stanley decreased their price target on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Finally, UBS Group increased their price target on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a report on Monday, April 22nd. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $184.93.

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.