HB Wealth Management LLC Acquires 7,304 Shares of International Business Machines Corporation $IBM

Key Points

• HB Wealth Management LLC increased its IBM stake by 8.4% in the first quarter, buying 7,304 more shares and bringing its total holdings to 94,006 shares worth about $22.8 million.
• IBM has seen mixed-but-bullish analyst attention, with recent target hikes from firms like Citigroup and JPMorgan; the stock currently carries a Moderate Buy consensus and an average price target of $306.76.
• The company continues to post solid fundamentals, including Q1 earnings of $1.91 per share and revenue of $15.92 billion, while also raising its quarterly dividend to $1.69 per share.

HB Wealth Management LLC boosted its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 8.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 94,006 shares of the technology company's stock after acquiring an additional 7,304 shares during the quarter. HB Wealth Management LLC's holdings in International Business Machines were worth $22,786,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Moran Wealth Management LLC increased its stake in International Business Machines by 0.6% in the first quarter. Moran Wealth Management LLC now owns 19,672 shares of the technology company's stock worth $4,768,000 after purchasing an additional 118 shares during the period. Counterpoint Mutual Funds LLC purchased a new stake in shares of International Business Machines during the first quarter valued at $4,221,000. Investors Asset Management of Georgia Inc. GA ADV boosted its stake in shares of International Business Machines by 6.6% during the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 8,701 shares of the technology company's stock valued at $2,109,000 after purchasing an additional 542 shares during the period. Altus Wealth Group LLC grew its holdings in shares of International Business Machines by 6.5% in the first quarter. Altus Wealth Group LLC now owns 1,487 shares of the technology company's stock worth $360,000 after purchasing an additional 91 shares during the last quarter. Finally, Counterweight Ventures LLC grew its holdings in shares of International Business Machines by 34.7% in the first quarter. Counterweight Ventures LLC now owns 1,966 shares of the technology company's stock worth $477,000 after purchasing an additional 506 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analyst Ratings Changes

IBM has been the subject of a number of research analyst reports. Citigroup lifted their price objective on shares of International Business Machines from $285.00 to $375.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. HSBC upgraded shares of International Business Machines from a "reduce" rating to a "hold" rating and upped their target price for the stock from $218.00 to $231.00 in a research note on Tuesday, April 28th. Wall Street Zen raised shares of International Business Machines from a "sell" rating to a "hold" rating in a research report on Sunday, June 21st. JPMorgan Chase & Co. raised shares of International Business Machines from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $270.00 to $291.00 in a research note on Tuesday, June 23rd. Finally, Wedbush set a $350.00 price target on International Business Machines in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, International Business Machines presently has an average rating of "Moderate Buy" and a consensus target price of $306.76.

International Business Machines Stock Performance

IBM stock opened at $288.95 on Friday. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76. The business has a 50-day moving average price of $256.99 and a 200 day moving average price of $266.36. The company has a market capitalization of $271.58 billion, a P/E ratio of 25.55, a PEG ratio of 3.00 and a beta of 0.68. International Business Machines Corporation has a 1-year low of $212.34 and a 1-year high of $332.46.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.10. The company had revenue of $15.92 billion for the quarter, compared to analysts' expectations of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The firm's quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.60 EPS. As a group, equities research analysts forecast that International Business Machines Corporation will post 12.4 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were given a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, May 8th. This is a boost from International Business Machines's previous quarterly dividend of $1.68. International Business Machines's dividend payout ratio is currently 59.77%.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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