Axxcess Wealth Management LLC Grows Stock Position in International Business Machines Corporation (NYSE:IBM)

Axxcess Wealth Management LLC boosted its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 11.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 21,131 shares of the technology company's stock after acquiring an additional 2,150 shares during the quarter. Axxcess Wealth Management LLC's holdings in International Business Machines were worth $5,254,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in IBM. Measured Risk Portfolios Inc. acquired a new position in shares of International Business Machines during the 4th quarter valued at about $43,000. Park Square Financial Group LLC purchased a new stake in International Business Machines in the 4th quarter valued at about $43,000. Mascagni Wealth Management Inc. purchased a new stake in International Business Machines in the 4th quarter valued at about $43,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in International Business Machines in the 1st quarter valued at about $45,000. Finally, M & L Capital Management Ltd purchased a new stake in International Business Machines in the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 58.96% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IBM. Bank of America boosted their price objective on shares of International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the stock a "hold" rating in a research note on Thursday, April 24th. Royal Bank Of Canada boosted their price target on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Finally, UBS Group reiterated a "sell" rating and set a $195.00 price target (up from $170.00) on shares of International Business Machines in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $259.06.

International Business Machines Stock Down 0.9%

IBM traded down $2.72 on Friday, reaching $284.71. The company's stock had a trading volume of 1,518,770 shares, compared to its average volume of 4,225,791. The stock has a 50 day moving average of $272.42 and a two-hundred day moving average of $251.52. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $264.61 billion, a price-to-earnings ratio of 49.02, a P/E/G ratio of 6.09 and a beta of 0.69. International Business Machines Corporation has a fifty-two week low of $176.62 and a fifty-two week high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion during the quarter, compared to the consensus estimate 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 was up .5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.68 earnings per share. As a group, analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders 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 annualized dividend and a dividend yield of 2.36%. International Business Machines's dividend payout ratio is presently 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.