Contravisory Investment Management Inc. Has $833,000 Position in International Business Machines Co. (NYSE:IBM)

Contravisory Investment Management Inc. increased its stake in International Business Machines Co. (NYSE:IBM - Free Report) by 49.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,351 shares of the technology company's stock after purchasing an additional 1,103 shares during the period. Contravisory Investment Management Inc.'s holdings in International Business Machines were worth $833,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. JBR Co Financial Management Inc raised its position in International Business Machines by 0.6% in the 4th quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company's stock valued at $1,405,000 after buying an additional 40 shares during the last quarter. Wealth Dimensions Group Ltd. raised its holdings in shares of International Business Machines by 1.0% in the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock valued at $873,000 after purchasing an additional 40 shares during the last quarter. Schechter Investment Advisors LLC lifted its position in shares of International Business Machines by 0.7% in the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company's stock worth $1,396,000 after purchasing an additional 43 shares in the last quarter. Titleist Asset Management LLC boosted its holdings in International Business Machines by 3.1% during the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock worth $315,000 after purchasing an additional 43 shares during the last quarter. Finally, Callan Capital LLC grew its position in International Business Machines by 2.4% in the fourth quarter. Callan Capital LLC now owns 1,870 shares of the technology company's stock valued at $411,000 after purchasing an additional 44 shares in the last quarter. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

Shares of NYSE:IBM traded up $1.23 on Thursday, hitting $266.75. The company had a trading volume of 2,655,316 shares, compared to its average volume of 4,210,076. The stock has a market cap of $247.92 billion, a price-to-earnings ratio of 41.61, a P/E/G ratio of 5.81 and a beta of 0.64. The stock has a 50 day moving average price of $247.45 and a 200 day moving average price of $240.98. International Business Machines Co. has a 1-year low of $165.78 and a 1-year high of $269.28. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share 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 analysts' expectations of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The business's revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.68 EPS. Analysts expect that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.52%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is currently 115.66%.

Analysts Set New Price Targets

Several brokerages have commented on IBM. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. UBS Group reiterated a "sell" rating and set a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. The Goldman Sachs Group restated a "buy" rating on shares of International Business Machines in a research note on Wednesday, February 5th. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Morgan Stanley cut their price objective on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $249.06.

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.