Apollon Wealth Management LLC Has $14.29 Million Position in International Business Machines Corporation (NYSE:IBM)

Apollon Wealth Management LLC grew its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,448 shares of the technology company's stock after acquiring an additional 2,329 shares during the period. Apollon Wealth Management LLC's holdings in International Business Machines were worth $14,285,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Capital World Investors grew its stake in shares of International Business Machines by 413.5% in the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after buying an additional 9,650,534 shares during the period. Norges Bank acquired a new position in International Business Machines during the 4th quarter valued at about $1,236,176,000. GAMMA Investing LLC boosted its stake in International Business Machines by 29,564.2% during the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after purchasing an additional 4,384,958 shares during the last quarter. Northern Trust Corp boosted its stake in International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after purchasing an additional 1,704,209 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in International Business Machines by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock valued at $20,189,023,000 after purchasing an additional 1,539,888 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Down 1.4%

Shares of NYSE:IBM opened at $283.33 on Monday. The stock's 50-day moving average price is $273.18 and its 200-day moving average price is $252.30. International Business Machines Corporation has a 12-month low of $181.81 and a 12-month high of $296.16. The stock has a market capitalization of $263.33 billion, a P/E ratio of 48.77, a price-to-earnings-growth ratio of 5.95 and a beta of 0.69. 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 (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. The firm had revenue of $14.54 billion for the quarter, compared to analysts' expectations of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The company's revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the firm earned $1.68 earnings per share. On average, equities analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 annualized dividend and a yield of 2.37%. International Business Machines's dividend payout ratio (DPR) is 115.66%.

Wall Street Analysts Forecast Growth

Several research firms have commented on IBM. Melius Research raised shares of International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Morgan Stanley dropped their target price on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. 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. Finally, The Goldman Sachs Group lifted their price target on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, International Business Machines has an average rating of "Moderate Buy" and an average target price of $259.06.

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.

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