2,197 Shares in International Business Machines Co. (NYSE:IBM) Purchased by KWB Wealth

KWB Wealth purchased a new position in shares of International Business Machines Co. (NYSE:IBM) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,197 shares of the technology company’s stock, valued at approximately $420,000.

Other hedge funds have also recently modified their holdings of the company. Naples Money Management LLC acquired a new position in shares of International Business Machines during the 4th quarter worth about $28,000. Creekmur Asset Management LLC acquired a new position in shares of International Business Machines during the 4th quarter worth about $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of International Business Machines during the 4th quarter worth about $31,000. Financial Gravity Asset Management Inc. raised its position in shares of International Business Machines by 67.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 91 shares during the last quarter. Finally, Financial Synergies Wealth Advisors Inc. raised its position in shares of International Business Machines by 164.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after purchasing an additional 123 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on IBM shares. BMO Capital Markets dropped 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 note on Thursday, April 25th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Sanford C. Bernstein upped their price objective on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. The Goldman Sachs Group started coverage on shares of International Business Machines in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 price objective for the company. Finally, Bank of America upped their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $182.53.

International Business Machines Trading Down 0.9 %

Shares of NYSE:IBM traded down $1.57 during mid-day trading on Thursday, reaching $175.73. 1,649,049 shares of the company were exchanged, compared to its average volume of 3,576,998. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. The firm has a market cap of $161.43 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 4.37 and a beta of 0.71. The firm’s 50-day simple moving average is $169.55 and its 200 day simple moving average is $176.76. International Business Machines Co. has a 1 year low of $131.55 and a 1 year high of $199.18.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The firm 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 firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $1.36 EPS. Equities research analysts forecast that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Thursday, May 9th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a yield of 3.80%. International Business Machines’s dividend payout ratio is 75.65%.

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.