Evermay Wealth Management LLC Boosts Stake in International Business Machines Corporation (NYSE:IBM)

Key Points

• Evermay Wealth Management LLC increased its holdings in International Business Machines Corporation (IBM) by 155.0% during the first quarter, now owning a total of 2,489 shares valued at approximately $619,000.
• Several institutional investors significantly boosted their ownership in IBM during the fourth quarter, with Capital World Investors reporting a 413.5% increase in shares owned.
• IBM reported a quarterly earnings per share (EPS) of $2.80, surpassing analysts' expectations, and announced a dividend increase to $1.68 per share, reflecting a dividend yield of 2.59%.

Evermay Wealth Management LLC grew its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 155.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,489 shares of the technology company's stock after buying an additional 1,513 shares during the period. Evermay Wealth Management LLC's holdings in International Business Machines were worth $619,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Christopher J. Hasenberg Inc bought a new position in shares of International Business Machines in the first quarter worth approximately $27,000. Measured Risk Portfolios Inc. bought a new position in shares of International Business Machines during the fourth quarter worth $43,000. Park Square Financial Group LLC bought a new position in shares of International Business Machines during the fourth quarter worth $43,000. Mascagni Wealth Management Inc. bought a new position in shares of International Business Machines during the fourth quarter worth $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of International Business Machines during the first quarter worth $45,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

International Business Machines stock traded down $4.87 during midday trading on Thursday, hitting $255.40. 2,872,085 shares of the company's stock were exchanged, compared to its average volume of 4,623,444. International Business Machines Corporation has a 12-month low of $181.81 and a 12-month high of $296.16. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The stock has a market cap of $237.36 billion, a price-to-earnings ratio of 41.46, a price-to-earnings-growth ratio of 4.05 and a beta of 0.69. The firm's 50 day simple moving average is $277.48 and its 200 day simple moving average is $256.64.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. The firm had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The firm's revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.43 earnings per share. Equities research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. UBS Group upped their target price on shares of International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research report on Thursday, July 24th. Bank of America lowered their price objective on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a research report on Thursday, July 24th. Stifel Nicolaus boosted their target price on shares of International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Wall Street Zen upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Royal Bank Of Canada boosted their target price on shares of International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $268.75.

International Business Machines 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.