Aspetuck Financial Management LLC Purchases New Shares in International Business Machines Corporation (NYSE:IBM)

Aspetuck Financial Management LLC purchased a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,417 shares of the technology company's stock, valued at approximately $352,000.

Several other institutional investors and hedge funds have also modified their holdings of IBM. Vision Financial Markets LLC acquired a new position in shares of International Business Machines in the fourth quarter valued at about $31,000. Rialto Wealth Management LLC bought a new stake in International Business Machines during the fourth quarter worth about $35,000. Tacita Capital Inc lifted its position in International Business Machines by 174.3% during the fourth 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. Measured Risk Portfolios Inc. bought a new stake in International Business Machines during the fourth quarter worth about $43,000. Finally, Park Square Financial Group LLC bought a new stake in International Business Machines during the fourth quarter worth about $43,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wedbush upped their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. BMO Capital Markets reaffirmed a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. 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. Finally, KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, International Business Machines currently has an average rating of "Hold" and an average target price of $253.75.

International Business Machines Stock Down 0.8%

Shares of NYSE IBM opened at $291.38 on Thursday. The company has a 50 day simple moving average of $260.83 and a 200 day simple moving average of $246.71. The firm has a market cap of $270.81 billion, a PE ratio of 50.15, a price-to-earnings-growth ratio of 6.17 and a beta of 0.66. International Business Machines Corporation has a 1 year low of $170.41 and a 1 year high of $296.16. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97.

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

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.31%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is currently 115.66%.

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.

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