Provence Wealth Management Group Raises Stock Position in International Business Machines Co. (NYSE:IBM)

Provence Wealth Management Group grew its holdings in International Business Machines Co. (NYSE:IBM) by 12.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,119 shares of the technology company’s stock after acquiring an additional 344 shares during the period. Provence Wealth Management Group’s holdings in International Business Machines were worth $510,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in IBM. VeraBank N.A. bought a new position in shares of International Business Machines during the fourth quarter worth $251,000. Legacy Financial Advisors Inc. boosted its holdings in shares of International Business Machines by 3.0% during the 4th quarter. Legacy Financial Advisors Inc. now owns 6,151 shares of the technology company’s stock valued at $1,006,000 after purchasing an additional 181 shares during the last quarter. Sapient Capital LLC purchased a new position in shares of International Business Machines during the fourth quarter valued at about $547,000. W Advisors LLC increased its holdings in shares of International Business Machines by 13.9% in the fourth quarter. W Advisors LLC now owns 1,923 shares of the technology company’s stock worth $315,000 after purchasing an additional 234 shares during the last quarter. Finally, Axxcess Wealth Management LLC lifted its position in shares of International Business Machines by 11.0% in the fourth quarter. Axxcess Wealth Management LLC now owns 15,357 shares of the technology company’s stock worth $2,512,000 after buying an additional 1,517 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the subject of several research analyst reports. Stifel Nicolaus restated a “buy” rating and set a $190.00 price target on shares of International Business Machines in a report on Wednesday, April 17th. UBS Group boosted their price target on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research report on Monday, April 22nd. JPMorgan Chase & Co. decreased their price target on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Bank of America upped their target price on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $181.29.

International Business Machines Trading Up 0.6 %

Shares of NYSE IBM traded up $1.02 during trading hours on Friday, reaching $165.71. The stock had a trading volume of 3,400,405 shares, compared to its average volume of 4,768,629. The business’s fifty day moving average price is $185.75 and its two-hundred day moving average price is $171.01. The firm has a market cap of $152.22 billion, a price-to-earnings ratio of 18.77, a P/E/G ratio of 4.08 and a beta of 0.74. International Business Machines Co. has a 52-week low of $120.55 and a 52-week high of $199.18. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter in the prior year, the company earned $1.36 EPS. The business’s revenue was up 1.5% compared to the same quarter last year. Analysts expect that International Business Machines Co. will post 9.92 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a dividend of $1.67 per share. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.03%. International Business Machines’s dividend payout ratio (DPR) is currently 75.20%.

International Business Machines Company Profile

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.