International Business Machines Co. (NYSE:IBM) Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC increased its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 47.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,892 shares of the technology company's stock after purchasing an additional 8,664 shares during the period. Farther Finance Advisors LLC's holdings in International Business Machines were worth $6,732,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Treasurer of the State of North Carolina boosted its holdings in shares of 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 worth $108,942,000 after purchasing an additional 4,131 shares during the period. Blue Zone Wealth Advisors LLC purchased a new position in shares of International Business Machines in the 4th quarter valued at approximately $242,000. Truist Financial Corp grew its position in shares of International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock worth $178,296,000 after buying an additional 49,591 shares during the period. Mufg Securities Americas Inc. bought a new position in shares of International Business Machines during the fourth quarter valued at approximately $3,000,000. Finally, QRG Capital Management Inc. grew its stake in shares of International Business Machines by 7.5% in the fourth quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company's stock worth $33,118,000 after acquiring an additional 10,467 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IBM. Bank of America boosted their price objective on shares of International Business Machines from $270.00 to $290.00 and gave the stock a "buy" rating in a report on Monday. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. Morgan Stanley lowered their target price on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Finally, Oppenheimer assumed coverage on International Business Machines in a report on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $250.31.

International Business Machines Trading Up 1.5%

IBM traded up $4.09 during trading on Tuesday, reaching $276.17. The company had a trading volume of 5,159,793 shares, compared to its average volume of 4,223,055. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 52 week low of $166.81 and a 52 week high of $277.43. The stock has a market cap of $256.67 billion, a P/E ratio of 43.08, a PEG ratio of 5.81 and a beta of 0.66. The business has a 50 day simple moving average of $248.62 and a 200-day simple moving average of $242.46.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. International Business Machines's quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the company earned $1.68 EPS. On average, equities analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed 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 is an increase from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.43%. International Business Machines's dividend payout ratio (DPR) is presently 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.