Denver Wealth Management Inc. Acquires New Holdings in International Business Machines Corporation (NYSE:IBM)

Denver Wealth Management Inc. acquired a new position in International Business Machines Corporation (NYSE:IBM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 905 shares of the technology company's stock, valued at approximately $225,000.

A number of other hedge funds also recently bought and sold shares of IBM. JBR Co Financial Management Inc boosted its stake in International Business Machines by 0.6% in the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company's stock valued at $1,405,000 after acquiring an additional 40 shares in the last quarter. Wealth Dimensions Group Ltd. boosted its position in shares of 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 worth $873,000 after purchasing an additional 40 shares in the last quarter. Pallas Capital Advisors LLC grew its stake 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 buying an additional 42 shares during the last quarter. Schechter Investment Advisors LLC grew its stake in International Business Machines by 0.7% during the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company's stock worth $1,396,000 after buying an additional 43 shares during the last quarter. Finally, 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 valued at $315,000 after buying an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Royal Bank Of Canada raised their price target on International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Morgan Stanley decreased their price objective on shares of 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. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Bank of America upped their price target on shares of International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $253.75.

International Business Machines Stock Down 0.9%

Shares of IBM opened at $280.67 on Friday. The company has a market capitalization of $260.85 billion, a price-to-earnings ratio of 48.31, a PEG ratio of 5.95 and a beta of 0.66. International Business Machines Corporation has a 52 week low of $170.41 and a 52 week high of $286.91. The stock's 50-day moving average price is $257.71 and its 200-day moving average price is $245.55. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09.

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

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.39%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is currently 115.66%.

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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.