Center For Asset Management LLC Makes New $227,000 Investment in International Business Machines Corporation (NYSE:IBM)

Center For Asset Management LLC purchased a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 914 shares of the technology company's stock, valued at approximately $227,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Treasurer of the State of North Carolina boosted its stake in International Business Machines by 0.8% during the fourth 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 during the last quarter. Mufg Securities Americas Inc. purchased a new stake in International Business Machines in the fourth quarter valued at $3,000,000. Magnolia Private Wealth LLC purchased a new stake in International Business Machines in the first quarter valued at $239,000. QRG Capital Management Inc. raised its position in International Business Machines by 7.5% in the fourth quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company's stock valued at $33,118,000 after purchasing an additional 10,467 shares during the period. Finally, Ferguson Wellman Capital Management Inc. raised its position in International Business Machines by 0.8% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 141,448 shares of the technology company's stock valued at $35,172,000 after purchasing an additional 1,058 shares during the period. Institutional investors own 58.96% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wedbush boosted their price objective on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Friday. BMO Capital Markets reissued a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Wall Street Zen cut International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Bank of America boosted their target price on International Business Machines from $290.00 to $320.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Finally, Royal Bank Of Canada boosted their target price on International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $253.75.

International Business Machines Stock Performance

International Business Machines stock traded up $4.71 during mid-day trading on Tuesday, reaching $293.89. 4,214,259 shares of the company were exchanged, compared to its average volume of 4,218,743. International Business Machines Corporation has a twelve month low of $170.41 and a twelve month high of $294.46. The firm's 50-day simple moving average is $258.71 and its two-hundred day simple moving average is $246.07. 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 firm has a market cap of $273.14 billion, a PE ratio of 28.21, a price-to-earnings-growth ratio of 6.07 and a beta of 0.66.

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, topping analysts' consensus estimates of $1.42 by $0.18. The company had revenue of $14.54 billion during 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 firm's revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the firm earned $1.68 EPS. Equities analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.29%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is 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.