Elequin Capital LP Acquires Shares of 1,300 International Business Machines Co. (NYSE:IBM)

Elequin Capital LP acquired a new stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,300 shares of the technology company's stock, valued at approximately $286,000.

A number of other hedge funds also recently bought and sold shares of the business. Compass Financial Services Inc purchased a new stake in shares of International Business Machines during the 4th quarter valued at approximately $26,000. Vision Financial Markets LLC purchased a new stake in International Business Machines in the 4th quarter valued at about $31,000. Valued Wealth Advisors LLC boosted its stake in International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock worth $35,000 after buying an additional 90 shares during the period. Rialto Wealth Management LLC acquired a new stake in shares of International Business Machines during the fourth quarter valued at about $35,000. Finally, Tacita Capital Inc lifted its holdings in shares of International Business Machines by 174.3% in the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock worth $42,000 after acquiring an additional 122 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Insider Transactions at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the transaction, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This represents a 37.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.18% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on IBM shares. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. BMO Capital Markets reaffirmed a "market perform" rating on shares of International Business Machines in a research 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. Oppenheimer assumed coverage on International Business Machines in a research report on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price objective for the company. Finally, Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $249.06.

International Business Machines Price Performance

NYSE:IBM opened at $266.76 on Wednesday. The stock has a market capitalization of $247.93 billion, a PE ratio of 41.62, a P/E/G ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a 1-year low of $163.53 and a 1-year high of $269.28. The firm has a fifty day simple moving average of $244.53 and a 200 day simple moving average of $237.32. 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 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 net margin of 9.60% and a return on equity of 38.99%. The firm's quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business earned $1.68 earnings per share. On average, research analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.52%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is presently 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.

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