Ferguson Shapiro LLC Invests $222,000 in International Business Machines Corporation (NYSE:IBM)

Ferguson Shapiro LLC acquired a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 893 shares of the technology company's stock, valued at approximately $222,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC increased its stake in shares of International Business Machines by 134.6% in the 1st quarter. Golden State Wealth Management LLC now owns 3,946 shares of the technology company's stock valued at $982,000 after acquiring an additional 2,264 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of International Business Machines by 694.3% during the first quarter. Bessemer Group Inc. now owns 587,228 shares of the technology company's stock worth $146,019,000 after purchasing an additional 513,302 shares in the last quarter. First Pacific Financial grew its holdings in shares of International Business Machines by 53.0% in the 1st quarter. First Pacific Financial now owns 673 shares of the technology company's stock valued at $167,000 after buying an additional 233 shares during the period. Aurora Private Wealth Inc. increased its position in shares of International Business Machines by 803.3% in the 1st quarter. Aurora Private Wealth Inc. now owns 13,929 shares of the technology company's stock valued at $3,464,000 after buying an additional 12,387 shares in the last quarter. Finally, Williams Financial LLC acquired a new stake in International Business Machines during the 1st quarter worth $211,000. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IBM. Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Citigroup restated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Wedbush upped their price target on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Friday, June 20th. Royal Bank Of Canada boosted their price objective on shares of International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Finally, Morgan Stanley lowered their target price on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $253.75.

International Business Machines Stock Performance

Shares of International Business Machines stock traded up $1.43 during trading on Thursday, hitting $292.49. 3,617,544 shares of the stock were exchanged, compared to its average volume of 4,221,083. The company has a fifty day moving average price of $260.83 and a 200-day moving average price of $246.71. The stock has a market capitalization of $271.84 billion, a price-to-earnings ratio of 50.34, a price-to-earnings-growth ratio of 6.11 and a beta of 0.66. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a 1-year low of $170.48 and a 1-year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. The firm had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The company's quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company earned $1.68 earnings per share. As a group, equities analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.30%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is currently 115.66%.

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.