Golden State Wealth Management LLC Grows Stock Position in International Business Machines Corporation (NYSE:IBM)

Golden State Wealth Management LLC boosted its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 134.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,946 shares of the technology company's stock after acquiring an additional 2,264 shares during the period. Golden State Wealth Management LLC's holdings in International Business Machines were worth $982,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vision Financial Markets LLC bought a new position in International Business Machines during the fourth quarter valued at $31,000. Rialto Wealth Management LLC purchased a new position in shares of International Business Machines during the 4th quarter valued at $35,000. Tacita Capital Inc grew its stake in shares of International Business Machines by 174.3% during the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock worth $42,000 after acquiring an additional 122 shares during the period. Measured Risk Portfolios Inc. purchased a new stake in International Business Machines in the 4th quarter worth about $43,000. Finally, Park Square Financial Group LLC bought a new stake in International Business Machines in the 4th quarter valued at about $43,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of NYSE IBM traded down $2.24 during mid-day trading on Friday, reaching $289.69. 3,560,346 shares of the company were exchanged, compared to its average volume of 4,223,757. The stock has a market capitalization of $269.24 billion, a PE ratio of 49.86, a PEG ratio of 6.13 and a beta of 0.66. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a 52 week low of $170.53 and a 52 week high of $296.16. The company's 50 day moving average price is $261.91 and its 200 day moving average price is $247.14.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data 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 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 company's revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.68 EPS. Sell-side analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a dividend of $1.68 per share. This is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.32%. International Business Machines's dividend payout ratio (DPR) is presently 115.66%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IBM. 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. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Bank of America increased their price objective on International Business Machines from $290.00 to $320.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. KGI Securities set a $242.00 target price on International Business Machines and gave the company a "hold" rating in a report on Thursday, April 24th. Finally, Royal Bank Of Canada upped their price target on International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $253.75.

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.