1,600 Shares in International Business Machines Corporation (NYSE:IBM) Bought by Denver PWM LLC

Key Points

• Denver PWM LLC acquired 1,600 shares of International Business Machines Corporation (IBM) worth approximately $398,000 in the first quarter, joining several other institutional investors increasing their positions in the company.
• IBM reported quarterly earnings of $2.80 per share, exceeding analysts' expectations, with a revenue increase of 7.7% year-over-year, highlighting strong financial performance.
• The company recently announced a quarterly dividend increase to $1.68 per share, reflecting its commitment to returning value to shareholders, despite a high dividend payout ratio of 109.09%.

Denver PWM LLC bought a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,600 shares of the technology company's stock, valued at approximately $398,000.

Several other institutional investors and hedge funds have also made changes to their positions in IBM. Wealth Dimensions Group Ltd. increased its position in International Business Machines by 1.0% in the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock valued at $873,000 after acquiring an additional 40 shares during the period. Pallas Capital Advisors LLC increased its position in International Business Machines by 0.9% during the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock worth $1,195,000 after purchasing an additional 42 shares during the period. DMC Group LLC increased its position in International Business Machines by 1.2% during the 1st quarter. DMC Group LLC now owns 3,517 shares of the technology company's stock worth $875,000 after purchasing an additional 42 shares during the period. Titleist Asset Management LLC increased its position in International Business Machines by 3.1% during the 4th 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 period. Finally, Range Financial Group LLC increased its position in International Business Machines by 0.6% during the 1st quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock worth $1,828,000 after purchasing an additional 43 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Down 0.3%

Shares of International Business Machines stock traded down $0.81 during trading hours on Friday, reaching $259.70. 7,751,998 shares of the company's stock were exchanged, compared to its average volume of 4,403,863. International Business Machines Corporation has a 52-week low of $181.81 and a 52-week high of $296.16. The firm has a market capitalization of $241.36 billion, a price-to-earnings ratio of 42.16, a price-to-earnings-growth ratio of 5.52 and a beta of 0.69. The company has a fifty day moving average of $277.69 and a 200-day moving average of $255.81. The company has a current ratio of 0.91, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The company had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same quarter in the prior year, the company posted $2.43 EPS. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. Sell-side analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 2.59%. 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 109.09%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IBM shares. The Goldman Sachs Group upped their price target on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Stifel Nicolaus upped their price target on International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Melius Research upgraded International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Wall Street Zen cut International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $268.75.

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.