HB Wealth Management LLC Has $19.23 Million Position in International Business Machines Corporation (NYSE:IBM)

Key Points

• HB Wealth Management LLC increased its stake in International Business Machines Corporation (IBM) by 10.7%, now owning 77,323 shares valued at approximately $19.23 million.
• IBM is experiencing positive forecasts from analysts, with ratings ranging from "hold" to "strong buy", and a consensus target price of $268.75.
• Recently, IBM raised its quarterly dividend to $1.68 per share, marking an increase from the previous dividend of $1.67, reflecting a yield of 2.59%.

HB Wealth Management LLC raised its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 10.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 77,323 shares of the technology company's stock after purchasing an additional 7,450 shares during the period. HB Wealth Management LLC's holdings in International Business Machines were worth $19,227,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. MinichMacGregor Wealth Management LLC acquired a new position in shares of International Business Machines in the first quarter valued at about $396,000. Treasurer of the State of North Carolina grew its stake in shares of International Business Machines by 0.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock valued at $108,942,000 after acquiring an additional 4,131 shares in the last quarter. Left Brain Wealth Management LLC grew its stake in shares of International Business Machines by 1,547.8% in the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock valued at $4,392,000 after acquiring an additional 16,592 shares in the last quarter. Alpha Cubed Investments LLC grew its stake in shares of International Business Machines by 47.0% in the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock valued at $1,867,000 after acquiring an additional 2,399 shares in the last quarter. Finally, Wedbush Securities Inc. grew its stake in shares of International Business Machines by 5.6% in the first quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company's stock valued at $15,434,000 after acquiring an additional 3,276 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IBM has been the topic of several research reports. Citigroup restated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Royal Bank Of Canada raised their price objective on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Wall Street Zen raised International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday. BMO Capital Markets boosted their price target on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. Finally, Morgan Stanley dropped their price target on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of "Moderate Buy" and a consensus target price of $268.75.

International Business Machines Trading Down 0.3%

Shares of IBM opened at $259.70 on Friday. The business has a 50-day moving average of $277.69 and a 200 day moving average of $255.81. International Business Machines Corporation has a fifty-two week low of $181.81 and a fifty-two week high of $296.16. The firm has a market cap 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 (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.65 by $0.15. The business had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. International Business Machines's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $2.43 earnings per share. As a group, research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given 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 2.59%. International Business Machines's payout ratio is 109.09%.

International Business Machines 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.

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