Hobbs Wealth Management LLC Acquires Shares of 974 International Business Machines Corporation (NYSE:IBM)

Hobbs Wealth Management LLC acquired a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 974 shares of the technology company's stock, valued at approximately $242,000.

Other large investors have also recently made changes to their positions in the company. Vision Financial Markets LLC bought a new position in shares of International Business Machines in the fourth quarter worth $31,000. Rialto Wealth Management LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth $35,000. Tacita Capital Inc raised its position in shares of International Business Machines by 174.3% in the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock worth $42,000 after buying an additional 122 shares in the last quarter. Measured Risk Portfolios Inc. purchased a new stake in shares of International Business Machines in the fourth quarter worth $43,000. Finally, Park Square Financial Group LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth $43,000. 58.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IBM. Morgan Stanley lowered their price objective on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. UBS Group reiterated a "sell" rating and issued a $170.00 price objective (up previously from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Wall Street Zen lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. BMO Capital Markets reissued a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Wedbush increased their price target on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, International Business Machines presently has a consensus rating of "Hold" and an average price target of $253.75.

International Business Machines Stock Down 0.8%

IBM opened at $289.69 on Friday. The company has a market cap of $269.24 billion, a P/E ratio of 49.86, a P/E/G ratio of 6.08 and a beta of 0.66. The business's 50-day moving average price is $262.93 and its 200-day moving average price is $247.66. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a 12 month low of $173.38 and a 12 month high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The company had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter in the previous year, the business earned $1.68 EPS. International Business Machines's revenue was up .5% compared to the same quarter last year. On average, equities analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

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

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.

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