First PREMIER Bank decreased its holdings in International Business Machines Co. by 7.6% in the first quarter, selling 106 shares and leaving them with 1,291 shares valued at $246,000. Other institutional investors and hedge funds have also adjusted their positions in IBM, with Vanguard Group Inc. seeing a 0.4% increase in stake, Morgan Stanley increasing its position by 13.4%, and Norges Bank acquiring a new position. In total, 58.96% of IBM shares belong to institutional investors and hedge funds.
IBM’s international trade in commercial machines saw a 1.5% increase. The company’s stock opened at $175.02 on Tuesday, with a market capitalization of $160.77 billion. International Business Machines Co. reported earnings of $1.68 per share for the quarter, exceeding estimates and achieving a return on equity of 40.21%. Revenue was $14.46 billion for the quarter, a 1.5% increase from the previous year.
IBM also increased its quarterly dividend to $1.67, with an annualized dividend yield of 3.82%. Analysts have set new price targets for IBM, with targets ranging from $125.00 to $186.00. The company has received various ratings from analysts, with a consensus rating of “Hold” and an average price target of $182.53.
International Business Machines Corporation provides integrated solutions and services globally, offering hybrid cloud and AI platforms to facilitate digital transformations for customers. For more information on IBM’s stock analysis and insider trading, interested parties can visit HoldingsChannel.com for the latest updates on the company.
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