Axxcess Wealth Management LLC Has $5.25 Million 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 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,131 shares of the technology company's stock after buying an additional 2,150 shares during the quarter. Axxcess Wealth Management LLC's holdings in International Business Machines were worth $5,254,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MinichMacGregor Wealth Management LLC bought a new stake in shares of International Business Machines during the first quarter valued at approximately $396,000. Treasurer of the State of North Carolina lifted its holdings in International Business Machines by 0.8% during the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock worth $108,942,000 after buying an additional 4,131 shares in the last quarter. Alpha Cubed Investments LLC lifted its holdings in International Business Machines by 47.0% during the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after buying an additional 2,399 shares in the last quarter. Mufg Securities Americas Inc. bought a new stake in International Business Machines during the 4th quarter worth about $3,000,000. Finally, Magnolia Private Wealth LLC acquired a new position in International Business Machines during the 1st quarter valued at about $239,000. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Stock Down 1.0%

Shares of IBM traded down $2.95 on Thursday, hitting $287.19. The company's stock had a trading volume of 3,484,681 shares, compared to its average volume of 4,233,249. 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 firm's fifty day moving average price is $271.47 and its 200-day moving average price is $251.07. International Business Machines Corporation has a fifty-two week low of $174.45 and a fifty-two week high of $296.16. The firm has a market capitalization of $266.91 billion, a price-to-earnings ratio of 49.43, a P/E/G ratio of 6.10 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. The company 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 firm's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.68 EPS. On average, equities research analysts expect 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. Stockholders of record on Friday, May 9th were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.34%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is currently 115.66%.

Wall Street Analyst Weigh In

IBM has been the subject of a number of recent research reports. 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. Citigroup restated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. The Goldman Sachs Group lifted 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. Melius Research raised International Business Machines to a "strong-buy" rating in a research note on Monday. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company 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.