Able Wealth Management LLC Buys Shares of 890 International Business Machines Corporation (NYSE:IBM)

Able Wealth Management LLC acquired a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 890 shares of the technology company's stock, valued at approximately $221,000.

Several other hedge funds have also added to or reduced their stakes in the business. MinichMacGregor Wealth Management LLC acquired a new stake in International Business Machines in the first quarter valued at $396,000. Treasurer of the State of North Carolina increased its stake in shares of International Business Machines by 0.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock valued at $108,942,000 after acquiring an additional 4,131 shares in the last quarter. Mufg Securities Americas Inc. acquired a new position in shares of International Business Machines during the fourth quarter valued at about $3,000,000. Magnolia Private Wealth LLC acquired a new position in International Business Machines during the 1st quarter worth approximately $239,000. Finally, Ferguson Wellman Capital Management Inc. boosted its holdings in International Business Machines by 0.8% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 141,448 shares of the technology company's stock worth $35,172,000 after acquiring an additional 1,058 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $287.79 on Thursday. The business has a 50 day moving average of $265.93 and a 200 day moving average of $248.79. International Business Machines Corporation has a 52 week low of $173.95 and a 52 week high of $296.16. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The company has a market cap of $267.47 billion, a PE ratio of 49.53, a P/E/G ratio of 6.11 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The business had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same quarter last year, the company earned $1.68 EPS. The company's quarterly revenue was up .5% compared to the same quarter last year. As a group, equities research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a $1.68 dividend. 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 2.34%. International Business Machines's dividend payout ratio (DPR) is 115.66%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, Bank of America boosted their price target on shares of International Business Machines from $290.00 to $320.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, International Business Machines has a consensus rating of "Hold" and a consensus target price of $257.50.

About International Business Machines

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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