Agate Pass Investment Management LLC Boosts Stock Position in International Business Machines Co. (NYSE:IBM)

Agate Pass Investment Management LLC increased its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 72.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,393 shares of the technology company's stock after purchasing an additional 3,110 shares during the quarter. Agate Pass Investment Management LLC's holdings in International Business Machines were worth $1,838,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Compass Financial Services Inc purchased a new stake in International Business Machines in the 4th quarter valued at $26,000. Vision Financial Markets LLC acquired a new position in International Business Machines during the 4th quarter worth about $31,000. Rialto Wealth Management LLC acquired a new position in International Business Machines during the 4th quarter worth about $35,000. Tacita Capital Inc increased its holdings in International Business Machines by 174.3% during the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock worth $42,000 after purchasing an additional 122 shares during the period. Finally, Measured Risk Portfolios Inc. purchased a new position in shares of International Business Machines in the 4th quarter valued at about $43,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

Shares of NYSE IBM traded up $0.19 during mid-day trading on Friday, reaching $258.88. 9,667,740 shares of the company were exchanged, compared to its average volume of 4,225,756. The company's 50-day simple moving average is $246.37 and its 200-day simple moving average is $239.81. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $240.60 billion, a P/E ratio of 40.39, a P/E/G ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a twelve month low of $163.53 and a twelve month high of $269.28.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results 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 analyst estimates of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The business's quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm earned $1.68 EPS. As a group, research analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid 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 2.60%. International Business Machines's dividend payout ratio is currently 115.66%.

Analyst Ratings Changes

IBM has been the subject of several recent analyst reports. Bank of America raised their price target on International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, January 30th. UBS Group reaffirmed a "sell" rating and issued a $170.00 price objective (up previously from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Wedbush reiterated an "outperform" rating and issued a $300.00 target price on shares of International Business Machines in a report on Wednesday, May 7th. BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada boosted their price objective on International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $249.06.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares of the company's stock, valued at $11,387,221.07. This trade represents a 37.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by corporate insiders.

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.