International Business Machines Co. (NYSE:IBM) Shares Bought by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC grew its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 634.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,401 shares of the technology company's stock after purchasing an additional 34,900 shares during the period. Gateway Investment Advisers LLC's holdings in International Business Machines were worth $10,046,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Compass Financial Services Inc acquired a new stake in International Business Machines during the 4th quarter worth approximately $26,000. Vision Financial Markets LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth $31,000. Rialto Wealth Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at $35,000. Tacita Capital Inc boosted its holdings in International Business Machines by 174.3% in the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock valued at $42,000 after purchasing an additional 122 shares during the period. Finally, Measured Risk Portfolios Inc. acquired a new position in International Business Machines during the 4th quarter worth $43,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

International Business Machines stock traded up $3.26 during trading hours on Monday, reaching $272.13. 4,330,887 shares of the stock were exchanged, compared to its average volume of 4,219,305. International Business Machines Co. has a 52-week low of $166.81 and a 52-week high of $273.41. The stock has a market cap of $252.92 billion, a P/E ratio of 42.45, a P/E/G ratio of 5.81 and a beta of 0.66. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The firm's 50 day moving average is $248.17 and its 200 day moving average is $242.11.

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

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors 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 yield of 2.47%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is currently 115.66%.

Analyst Ratings Changes

A number of research firms have issued reports on IBM. Morgan Stanley reduced their price target 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. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the company a "hold" rating in a report on Thursday, April 24th. Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Oppenheimer assumed coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 price objective on the stock. Finally, Bank of America raised their price objective on shares of International Business Machines from $270.00 to $290.00 and gave the company a "buy" rating in a report on Monday. One research analyst has rated the stock with a sell rating, nine have issued 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, the stock has an average rating of "Hold" and an average target price of $250.31.

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.