International Business Machines Corporation (NYSE:IBM) Shares Acquired by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC increased its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 1.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,405 shares of the technology company's stock after acquiring an additional 958 shares during the quarter. International Business Machines comprises approximately 0.7% of HighPoint Advisor Group LLC's portfolio, making the stock its 27th largest holding. HighPoint Advisor Group LLC's holdings in International Business Machines were worth $12,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Christopher J. Hasenberg Inc acquired a new position in International Business Machines in the first quarter valued at $27,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in International Business Machines in the first quarter valued at $45,000. Park Square Financial Group LLC acquired a new position in International Business Machines in the fourth quarter valued at $43,000. Park Place Capital Corp increased its stake in International Business Machines by 42.6% in the first quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock valued at $48,000 after purchasing an additional 58 shares during the period. Finally, Measured Risk Portfolios Inc. acquired a new position in International Business Machines in the fourth quarter valued at $43,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

IBM stock traded down $21.75 during trading on Thursday, reaching $260.26. 16,259,661 shares of the company were exchanged, compared to its average volume of 4,569,351. International Business Machines Corporation has a 52-week low of $181.81 and a 52-week high of $296.16. The company has a market cap of $241.89 billion, a P/E ratio of 44.80, a PEG ratio of 6.01 and a beta of 0.69. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The stock's 50 day moving average price is $277.95 and its 200 day moving average price is $255.30.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.15. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The company had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter in the prior year, the firm earned $2.43 earnings per share. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts predict 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 issued a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.58%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is 115.66%.

Analyst Ratings Changes

IBM has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. The Goldman Sachs Group boosted their price target on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Wedbush boosted their price target on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. UBS Group boosted their price target on shares of International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research note on Thursday. Finally, JPMorgan Chase & Co. boosted 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 note on Thursday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $268.75.

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.