Dover Advisors LLC Buys 2,741 Shares of International Business Machines Co. (NYSE:IBM)

Dover Advisors LLC grew its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 39.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,705 shares of the technology company's stock after acquiring an additional 2,741 shares during the quarter. International Business Machines accounts for 1.1% of Dover Advisors LLC's portfolio, making the stock its 25th largest holding. Dover Advisors LLC's holdings in International Business Machines were worth $2,413,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of IBM. Vision Financial Markets LLC bought a new position in International Business Machines in the fourth quarter worth $31,000. Rialto Wealth Management LLC bought a new position in International Business Machines in the fourth quarter worth $35,000. Tacita Capital Inc lifted its position in International Business Machines by 174.3% in the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock worth $42,000 after purchasing an additional 122 shares during the period. Park Square Financial Group LLC bought a new position in International Business Machines in the fourth quarter worth $43,000. Finally, Measured Risk Portfolios Inc. bought a new position in shares of International Business Machines during the fourth quarter valued at $43,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Down 1.5%

International Business Machines stock traded down $4.20 during trading hours on Friday, reaching $276.84. 3,242,911 shares of the company's stock traded hands, compared to its average volume of 4,231,454. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a fifty-two week low of $167.23 and a fifty-two week high of $283.06. The firm has a market capitalization of $257.29 billion, a price-to-earnings ratio of 43.19, a PEG ratio of 5.81 and a beta of 0.66. The firm's 50 day moving average is $252.60 and its 200-day moving average is $243.67.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The company had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the prior year, the company posted $1.68 EPS. The company's revenue was up .5% compared to the same quarter last year. On average, analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a $1.68 dividend. This is a boost 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 2.43%. International Business Machines's dividend payout ratio is 115.66%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. UBS Group reissued a "sell" rating and set a $170.00 price objective (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. 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. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Citigroup reissued an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $250.31.

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.