CoreCap Advisors LLC Buys 6,942 Shares of International Business Machines Co. (NYSE:IBM)

CoreCap Advisors LLC lifted its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 37.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,697 shares of the technology company's stock after purchasing an additional 6,942 shares during the quarter. CoreCap Advisors LLC's holdings in International Business Machines were worth $5,649,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. JBR Co Financial Management Inc grew its position in International Business Machines by 0.6% during the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company's stock worth $1,405,000 after buying an additional 40 shares in the last quarter. Wealth Dimensions Group Ltd. increased its position in shares of International Business Machines by 1.0% in the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock worth $873,000 after purchasing an additional 40 shares during the last quarter. Schechter Investment Advisors LLC raised its stake in International Business Machines by 0.7% in the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company's stock valued at $1,396,000 after purchasing an additional 43 shares in the last quarter. Titleist Asset Management LLC lifted its position in International Business Machines by 3.1% during the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock valued at $315,000 after purchasing an additional 43 shares during the last quarter. Finally, Callan Capital LLC increased its holdings in shares of International Business Machines by 2.4% in the 4th quarter. Callan Capital LLC now owns 1,870 shares of the technology company's stock worth $411,000 after buying an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Wall Street Analyst Weigh In

IBM has been the subject of several research reports. The Goldman Sachs Group reiterated a "buy" rating on shares of International Business Machines in a research report on Wednesday, February 5th. StockNews.com lowered International Business Machines from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Bank of America boosted their target price on International Business Machines from $260.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Royal Bank of Canada reiterated an "outperform" rating and set a $276.00 price target on shares of International Business Machines in a research report on Monday, April 14th. Finally, Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $248.50.

International Business Machines Stock Up 0.2 %

Shares of NYSE:IBM opened at $249.60 on Wednesday. International Business Machines Co. has a 1 year low of $163.53 and a 1 year high of $266.45. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The stock's 50-day moving average is $242.99 and its 200 day moving average is $234.38. The company has a market cap of $231.98 billion, a PE ratio of 38.94, a P/E/G ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm's revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.68 earnings per share. Sell-side analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid a dividend of $1.68 per share. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.69%. International Business Machines's payout ratio is presently 115.66%.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now directly owns 45,007 shares of the company's stock, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by corporate insiders.

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.

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