Consolidated Capital Management LLC Purchases New Position in International Business Machines Corporation (NYSE:IBM)

Consolidated Capital Management LLC acquired a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,200 shares of the technology company's stock, valued at approximately $298,000.

A number of other hedge funds have also added to or reduced their stakes in IBM. MinichMacGregor Wealth Management LLC bought a new stake in shares of International Business Machines during the first quarter worth $396,000. Treasurer of the State of North Carolina lifted its holdings in shares of 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 purchasing an additional 4,131 shares during the period. Alpha Cubed Investments LLC lifted its holdings in shares of International Business Machines by 47.0% during the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after purchasing an additional 2,399 shares during the period. Mufg Securities Americas Inc. acquired a new position in International Business Machines in the fourth quarter valued at $3,000,000. Finally, Magnolia Private Wealth LLC acquired a new position in International Business Machines in the first quarter valued at $239,000. 58.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on IBM. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. BMO Capital Markets reissued a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Royal Bank Of Canada boosted their target price on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. The Goldman Sachs Group boosted their target price on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, UBS Group reissued a "sell" rating and set a $195.00 target price (up from $170.00) on shares of International Business Machines in a research report 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 one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $259.06.

International Business Machines Stock Performance

Shares of International Business Machines stock traded down $1.66 on Wednesday, reaching $288.76. 520,709 shares of the company traded hands, compared to its average volume of 4,219,927. International Business Machines Corporation has a 52 week low of $174.45 and a 52 week high of $296.16. The company has a 50 day moving average of $270.51 and a 200 day moving average of $250.80. The firm has a market capitalization of $268.37 billion, a PE ratio of 49.75, a PEG ratio of 6.14 and a beta of 0.69. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the prior year, the firm earned $1.68 EPS. The company's revenue was up .5% compared to the same quarter last year. Equities analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a dividend of $1.68 per share. This is an increase from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.33%. International Business Machines's dividend payout ratio is currently 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.