Allworth Financial LP Boosts Stake in International Business Machines Corporation (NYSE:IBM)

Allworth Financial LP raised its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 23.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 75,242 shares of the technology company's stock after buying an additional 14,234 shares during the period. Allworth Financial LP's holdings in International Business Machines were worth $17,255,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Measured Risk Portfolios Inc. purchased a new stake in shares of International Business Machines in the 4th quarter worth $43,000. Park Square Financial Group LLC purchased a new stake in shares of International Business Machines in the 4th quarter worth $43,000. Mascagni Wealth Management Inc. purchased a new stake in shares of International Business Machines in the 4th quarter worth $43,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of International Business Machines in the 1st quarter worth $45,000. Finally, M & L Capital Management Ltd purchased a new stake in shares of International Business Machines in the 4th quarter worth $48,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of IBM traded down $4.10 during midday trading on Friday, hitting $283.33. 3,789,706 shares of the company traded hands, compared to its average volume of 4,240,258. The firm has a 50 day moving average of $273.18 and a 200-day moving average of $251.92. International Business Machines Corporation has a 52 week low of $178.50 and a 52 week high of $296.16. The stock has a market cap of $263.33 billion, a price-to-earnings ratio of 48.77, a PEG ratio of 6.04 and a beta of 0.69. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly 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. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter last year, the firm earned $1.68 EPS. The firm's revenue for the quarter was up .5% compared to the same quarter last year. On average, analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared 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 an increase 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 2.37%. International Business Machines's dividend payout ratio (DPR) is presently 115.66%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IBM. Morgan Stanley reduced their price objective on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Wall Street Zen lowered International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. UBS Group restated a "sell" rating and issued a $195.00 price objective (up from $170.00) on shares of International Business Machines in a research note on Wednesday. The Goldman Sachs Group upped their price objective on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Finally, Royal Bank Of Canada upped their target price on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, International Business Machines has a consensus rating of "Moderate Buy" and an average price target of $259.06.

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.