Azzad Asset Management Inc. ADV Takes $5.18 Million Position in International Business Machines Corporation (NYSE:IBM)

Azzad Asset Management Inc. ADV bought a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 20,842 shares of the technology company's stock, valued at approximately $5,183,000. International Business Machines accounts for 0.6% of Azzad Asset Management Inc. ADV's investment portfolio, making the stock its 25th biggest position.

Several other large investors have also recently modified their holdings of IBM. Vision Financial Markets LLC purchased a new stake in shares of International Business Machines during the 4th quarter valued at approximately $31,000. Rialto Wealth Management LLC bought a new stake in International Business Machines during the 4th quarter valued at $35,000. Tacita Capital Inc lifted its position in shares of 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 acquiring an additional 122 shares in the last quarter. Measured Risk Portfolios Inc. bought a new position in shares of International Business Machines in the fourth quarter worth $43,000. Finally, Park Square Financial Group LLC purchased a new position in shares of International Business Machines in the fourth quarter valued at $43,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on IBM. Citigroup reissued an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Bank of America upped their price target on International Business Machines from $270.00 to $290.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Wall Street Zen downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Wedbush reaffirmed an "outperform" rating and set a $300.00 price objective on shares of International Business Machines in a research note on Wednesday, May 7th. Finally, Royal Bank Of Canada upped their target price on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of "Hold" and a consensus price target of $250.31.

International Business Machines Price Performance

IBM traded up $1.13 during trading on Tuesday, reaching $282.96. The stock had a trading volume of 3,067,681 shares, compared to its average volume of 4,234,403. The business has a 50-day moving average of $254.78 and a 200-day moving average of $244.55. International Business Machines Corporation has a one year low of $168.38 and a one year high of $284.79. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The stock has a market cap of $262.98 billion, a PE ratio of 48.70, a PEG ratio of 5.92 and a beta of 0.66.

International Business Machines (NYSE:IBM - Get Free Report) last announced 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 firm had revenue of $14.54 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company earned $1.68 EPS. As a group, equities research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm 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 represents a $6.72 dividend on an annualized basis and a dividend yield of 2.37%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is presently 115.66%.

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.