Apella Capital LLC Boosts Position in International Business Machines Co. (NYSE:IBM)

Apella Capital LLC increased its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 33.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,592 shares of the technology company's stock after purchasing an additional 1,644 shares during the quarter. Apella Capital LLC's holdings in International Business Machines were worth $1,551,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Bremer Bank National Association boosted its holdings in International Business Machines by 11.4% during the 1st quarter. Bremer Bank National Association now owns 26,727 shares of the technology company's stock valued at $6,646,000 after acquiring an additional 2,730 shares during the period. CGN Advisors LLC bought a new stake in International Business Machines in the first quarter valued at approximately $228,000. Smith Anglin Financial LLC lifted its position in International Business Machines by 0.8% in the first quarter. Smith Anglin Financial LLC now owns 9,639 shares of the technology company's stock valued at $2,397,000 after purchasing an additional 76 shares during the last quarter. Chickasaw Capital Management LLC bought a new position in shares of International Business Machines in the first quarter worth approximately $211,000. Finally, Merit Financial Group LLC increased its stake in shares of International Business Machines by 35.3% in the first quarter. Merit Financial Group LLC now owns 28,176 shares of the technology company's stock worth $7,006,000 after buying an additional 7,351 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Up 0.8%

Shares of NYSE IBM traded up $2.09 on Friday, reaching $268.95. 2,494,389 shares of the company's stock traded hands, compared to its average volume of 4,207,873. The business's 50 day simple moving average is $247.80 and its two-hundred day simple moving average is $241.38. International Business Machines Co. has a 12 month low of $166.80 and a 12 month high of $270.12. The company has a market cap of $249.96 billion, a price-to-earnings ratio of 41.96, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

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

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be given 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 yield of 2.50%. International Business Machines's payout ratio is 115.66%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on IBM shares. Wall Street Zen cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Oppenheimer began coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 target price on the stock. Morgan Stanley reduced their price target on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. BMO Capital Markets reiterated a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Wedbush reissued an "outperform" rating and set a $300.00 target price on shares of International Business Machines in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $249.06.

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.