Elyxium Wealth LLC Invests $342,000 in International Business Machines Corporation (NYSE:IBM)

Elyxium Wealth LLC 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 disclosure with the Securities & Exchange Commission. The firm bought 1,376 shares of the technology company's stock, valued at approximately $342,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. MinichMacGregor Wealth Management LLC bought a new position in International Business Machines during the first quarter valued at about $396,000. Treasurer of the State of North Carolina raised its holdings in International Business Machines by 0.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock valued at $108,942,000 after buying an additional 4,131 shares in the last quarter. Left Brain Wealth Management LLC raised its holdings in International Business Machines by 1,547.8% during the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock valued at $4,392,000 after buying an additional 16,592 shares in the last quarter. Alpha Cubed Investments LLC raised its holdings in International Business Machines by 47.0% during the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock valued at $1,867,000 after buying an additional 2,399 shares in the last quarter. Finally, Mufg Securities Americas Inc. bought a new position in International Business Machines during the fourth quarter valued at about $3,000,000. Institutional investors and hedge funds own 58.96% of the company's stock.

Wall Street Analyst Weigh In

IBM has been the topic of a number of recent analyst reports. UBS Group reiterated a "sell" rating and issued a $195.00 price objective (up from $170.00) on shares of International Business Machines in a research note on Wednesday, July 9th. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Morgan Stanley decreased their target price on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Bank of America lifted their target price on International Business Machines from $290.00 to $320.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Finally, BMO Capital Markets lifted their target price on International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research report on Friday. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $266.19.

International Business Machines Stock Up 1.4%

Shares of IBM opened at $286.04 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. The stock has a market capitalization of $265.85 billion, a PE ratio of 49.23, a P/E/G ratio of 6.00 and a beta of 0.69. The firm's 50 day moving average is $276.39 and its 200-day moving average is $254.26. International Business Machines Corporation has a 12 month low of $181.81 and a 12 month high of $296.16.

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, topping the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The firm's revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the business posted $1.68 EPS. Equities research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.35%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is currently 115.66%.

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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