Elite Wealth Management Inc. Acquires Shares of 4,337 International Business Machines Corporation (NYSE:IBM)

Elite Wealth Management Inc. bought a new position in International Business Machines Corporation (NYSE:IBM - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,337 shares of the technology company's stock, valued at approximately $1,078,000. International Business Machines makes up about 0.1% of Elite Wealth Management Inc.'s portfolio, making the stock its 20th biggest position.

A number of other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its position in shares of International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after purchasing an additional 2,323 shares during the period. Proficio Capital Partners LLC grew its stake in International Business Machines by 81.5% during the 4th quarter. Proficio Capital Partners LLC now owns 2,686 shares of the technology company's stock worth $591,000 after buying an additional 1,206 shares during the last quarter. Choate Investment Advisors increased its position in International Business Machines by 8.3% in the fourth quarter. Choate Investment Advisors now owns 11,153 shares of the technology company's stock worth $2,452,000 after buying an additional 854 shares during the period. one8zero8 LLC bought a new stake in International Business Machines in the fourth quarter valued at $1,672,000. Finally, Ascent Capital Management LLC acquired a new position in shares of International Business Machines during the fourth quarter valued at $230,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Down 1.4%

NYSE IBM opened at $283.33 on Monday. International Business Machines Corporation has a 12 month low of $181.81 and a 12 month high of $296.16. The company has a market capitalization of $263.33 billion, a P/E ratio of 48.77, a PEG ratio of 5.95 and a beta of 0.69. The company's 50 day simple moving average is $273.18 and its 200 day simple moving average is $252.30. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97.

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

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a $1.68 dividend. This is a positive change 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 2.37%. International Business Machines's dividend payout ratio (DPR) is 115.66%.

Analyst Ratings Changes

IBM has been the topic of a number of analyst reports. Royal Bank Of Canada increased their price objective on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Bank of America lifted their price target on International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Wedbush increased their price objective on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Finally, Wall Street Zen lowered International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $259.06.

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.

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