1,008 Shares in International Business Machines Corporation (NYSE:IBM) Purchased by Horan Capital Advisors LLC.

Key Points

• Horan Capital Advisors LLC has acquired a new stake in International Business Machines Corporation (NYSE:IBM), purchasing 1,008 shares valued at approximately $251,000.
• Analysts have raised their price targets for IBM, with BMO Capital Markets increasing it from $260 to $300, and Stifel Nicolaus lifting it from $290 to $310, reflecting optimism in the company's growth potential.
• IBM recently declared a quarterly dividend of $1.68 per share, which is an increase from its previous dividend of $1.67, representing an annual dividend yield of 2.59%.

Horan Capital Advisors LLC. acquired a new position in International Business Machines Corporation (NYSE:IBM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,008 shares of the technology company's stock, valued at approximately $251,000.

A number of other institutional investors have also made changes to their positions in the business. Brighton Jones LLC increased its holdings in International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after buying an additional 2,323 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in International Business Machines by 14.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 533,928 shares of the technology company's stock worth $117,373,000 after buying an additional 68,760 shares during the last quarter. Orion Portfolio Solutions LLC increased its holdings in International Business Machines by 10.0% during the fourth quarter. Orion Portfolio Solutions LLC now owns 54,663 shares of the technology company's stock worth $12,017,000 after buying an additional 4,985 shares during the last quarter. RiverFront Investment Group LLC increased its holdings in International Business Machines by 4.6% during the fourth quarter. RiverFront Investment Group LLC now owns 3,450 shares of the technology company's stock worth $758,000 after buying an additional 151 shares during the last quarter. Finally, Maridea Wealth Management LLC acquired a new position in International Business Machines during the fourth quarter worth $221,000. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

Shares of IBM stock traded down $0.81 on Friday, hitting $259.70. The company's stock had a trading volume of 7,751,998 shares, compared to its average volume of 4,613,670. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The stock's 50 day moving average is $277.69 and its 200-day moving average is $256.27. International Business Machines Corporation has a fifty-two week low of $181.81 and a fifty-two week high of $296.16. The company has a market capitalization of $241.36 billion, a PE ratio of 42.16, a PEG ratio of 4.01 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $16.58 billion. During the same period in the prior year, the company posted $2.43 earnings per share. International Business Machines's revenue was up 7.7% compared to the same quarter last year. Equities research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed 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 a boost 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 dividend payout ratio is currently 109.09%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. Citigroup restated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Stifel Nicolaus boosted 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. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Royal Bank Of Canada upped their price objective on shares of International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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.