IFP Advisors Inc Acquires 6,424 Shares of International Business Machines Corporation (NYSE:IBM)

IFP Advisors Inc increased its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 27.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,678 shares of the technology company's stock after purchasing an additional 6,424 shares during the period. IFP Advisors Inc's holdings in International Business Machines were worth $7,380,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. OneAscent Financial Services LLC raised its holdings in International Business Machines by 102.3% in the first quarter. OneAscent Financial Services LLC now owns 8,074 shares of the technology company's stock valued at $2,012,000 after buying an additional 4,083 shares during the period. Mowery & Schoenfeld Wealth Management LLC increased its stake in International Business Machines by 59.8% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 505 shares of the technology company's stock worth $126,000 after purchasing an additional 189 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in International Business Machines during the 1st quarter worth about $342,000. OneAscent Family Office LLC lifted its holdings in International Business Machines by 65.0% in the 1st quarter. OneAscent Family Office LLC now owns 2,894 shares of the technology company's stock worth $720,000 after purchasing an additional 1,140 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC lifted its holdings in International Business Machines by 0.3% in the 1st quarter. Cassaday & Co Wealth Management LLC now owns 14,346 shares of the technology company's stock worth $3,567,000 after purchasing an additional 50 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on IBM. Bank of America increased their price target on International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Wedbush boosted their price objective on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. Stifel Nicolaus upped their target price on International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. The Goldman Sachs Group increased their price objective on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Wall Street Zen downgraded International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, International Business Machines currently has an average rating of "Moderate Buy" and a consensus target price of $266.19.

International Business Machines Stock Up 1.9%

Shares of NYSE IBM traded up $5.31 during midday trading on Wednesday, hitting $287.27. 2,076,372 shares of the stock traded hands, compared to its average volume of 4,228,564. The company has a market cap of $266.99 billion, a PE ratio of 49.45, a P/E/G ratio of 5.98 and a beta of 0.69. International Business Machines Corporation has a one year low of $181.81 and a one year high of $296.16. The business has a 50 day moving average price of $276.39 and a two-hundred day moving average price of $254.50. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01.

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

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.34%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is presently 115.66%.

International Business Machines Company 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.