City Center Advisors LLC Invests $286,000 in International Business Machines Co. (NYSE:IBM)

City Center Advisors LLC acquired a new position in International Business Machines Co. (NYSE:IBM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 1,152 shares of the technology company's stock, valued at approximately $286,000.

Several other large investors have also recently modified their holdings of the stock. Bank of New Hampshire increased its holdings in shares of International Business Machines by 1.8% in the first quarter. Bank of New Hampshire now owns 9,503 shares of the technology company's stock worth $2,363,000 after buying an additional 166 shares during the period. Miracle Mile Advisors LLC increased its holdings in shares of International Business Machines by 4.3% in the first quarter. Miracle Mile Advisors LLC now owns 3,889 shares of the technology company's stock worth $967,000 after buying an additional 159 shares during the period. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of International Business Machines by 9.7% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 4,487 shares of the technology company's stock worth $1,116,000 after buying an additional 398 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of International Business Machines by 8.2% in the first quarter. Revolve Wealth Partners LLC now owns 2,145 shares of the technology company's stock worth $533,000 after buying an additional 163 shares during the period. Finally, Wedmont Private Capital increased its holdings in shares of International Business Machines by 4.9% in the first quarter. Wedmont Private Capital now owns 11,953 shares of the technology company's stock worth $2,815,000 after buying an additional 558 shares during the period. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analyst Ratings Changes

IBM has been the topic of a number of research analyst reports. Oppenheimer began coverage on International Business Machines in a report on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price target on the stock. Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Wall Street Zen lowered International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Morgan Stanley lowered their price target on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Finally, Wedbush reaffirmed an "outperform" rating and set a $300.00 price target on shares of International Business Machines in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of "Hold" and an average price target of $249.06.

International Business Machines Stock Performance

Shares of IBM opened at $268.95 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The business's 50 day moving average price is $248.17 and its 200-day moving average price is $241.98. International Business Machines Co. has a 52 week low of $166.81 and a 52 week high of $270.17. The stock has a market cap of $249.96 billion, a P/E ratio of 41.96, a P/E/G ratio of 5.81 and a beta of 0.66.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm had revenue of $14.54 billion for the quarter, compared to analysts' expectations of $14.41 billion. During the same period in the previous year, the firm posted $1.68 EPS. The business's revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given a $1.68 dividend. This is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.50%. 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.

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