International Business Machines Corporation (NYSE:IBM) Shares Purchased by Grove Street Fiduciary LLC

Grove Street Fiduciary LLC boosted its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 44.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,554 shares of the technology company's stock after purchasing an additional 1,100 shares during the period. Grove Street Fiduciary LLC's holdings in International Business Machines were worth $884,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in IBM. MinichMacGregor Wealth Management LLC bought a new position in shares of International Business Machines during the first quarter worth about $396,000. Treasurer of the State of North Carolina lifted its position 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 last quarter. Left Brain Wealth Management LLC lifted its position in shares of 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 worth $4,392,000 after purchasing an additional 16,592 shares during the last quarter. Alpha Cubed Investments LLC lifted its position in shares of 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 worth $1,867,000 after purchasing an additional 2,399 shares during the last quarter. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new position in shares of International Business Machines during the first quarter worth about $4,608,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of IBM traded down $0.81 during mid-day trading on Friday, reaching $259.70. 7,751,998 shares of the company's stock traded hands, compared to its average volume of 4,403,863. The business's 50-day moving average price is $277.69 and its 200-day moving average price is $255.81. The stock has a market capitalization of $241.36 billion, a P/E ratio of 42.16, a price-to-earnings-growth ratio of 5.52 and a beta of 0.69. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 0.91. 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 data on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same quarter last year, the business earned $2.43 earnings per share. The business's revenue for the quarter was up 7.7% on a year-over-year basis. Equities analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.59%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is currently 109.09%.

Wall Street Analysts Forecast Growth

IBM has been the topic of several research analyst reports. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. JPMorgan Chase & Co. increased their price target on shares of International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a research report on Thursday. Bank of America reduced their price target on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research report on Thursday. Stifel Nicolaus raised 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. Finally, UBS Group raised their target price on shares of International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a report on Thursday. 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 issued a strong buy rating to the company. Based on data from MarketBeat, International Business Machines presently has an average rating of "Moderate Buy" and a consensus price target of $268.75.

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.