Park National Corp OH Sells 500 Shares of International Business Machines Co. (NYSE:IBM)

Park National Corp OH lessened its holdings in International Business Machines Co. (NYSE:IBM) by 3.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,561 shares of the technology company’s stock after selling 500 shares during the quarter. Park National Corp OH’s holdings in International Business Machines were worth $2,972,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Adirondack Trust Co. grew its position in International Business Machines by 11.1% in the fourth quarter. Adirondack Trust Co. now owns 8,494 shares of the technology company’s stock valued at $1,389,000 after purchasing an additional 852 shares in the last quarter. Kapitalo Investimentos Ltda grew its position in International Business Machines by 309.0% in the fourth quarter. Kapitalo Investimentos Ltda now owns 1,452 shares of the technology company’s stock valued at $237,000 after purchasing an additional 1,097 shares in the last quarter. HighPoint Advisor Group LLC bought a new position in International Business Machines in the fourth quarter valued at $7,480,000. Grayhawk Investment Strategies Inc. bought a new position in International Business Machines in the fourth quarter valued at $540,000. Finally, Skyline Advisors Inc. bought a new position in International Business Machines in the fourth quarter valued at $222,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the subject of a number of analyst reports. Wedbush lifted their price objective on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. BMO Capital Markets decreased their price objective on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. decreased their price objective on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of International Business Machines in a report on Wednesday, May 22nd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $181.29.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $170.56 on Wednesday. The company has a 50-day simple moving average of $171.65 and a two-hundred day simple moving average of $175.99. The stock has a market capitalization of $156.68 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 4.18 and a beta of 0.72. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. International Business Machines Co. has a twelve month low of $129.18 and a twelve month high of $199.18.

International Business Machines (NYSE:IBM) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.36 EPS. Analysts forecast that International Business Machines Co. will post 9.9 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. Investors of record on Friday, May 10th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.92%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date was Thursday, May 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

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.