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

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

Other institutional investors and hedge funds have also made changes to their positions in the company. MinichMacGregor Wealth Management LLC purchased a new position in shares of International Business Machines in the first quarter valued at $396,000. Treasurer of the State of North Carolina raised its holdings in 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 raised its holdings in 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 raised its holdings in shares of International Business Machines by 47.0% during the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after purchasing an additional 2,399 shares during the period. Finally, Magnolia Private Wealth LLC acquired a new stake in shares of International Business Machines during the first quarter worth $239,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Down 1.0%

International Business Machines stock traded down $2.76 during mid-day trading on Tuesday, hitting $281.95. 3,067,081 shares of the company's stock were exchanged, compared to its average volume of 4,223,304. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. The stock has a market cap of $262.04 billion, a P/E ratio of 48.47, a P/E/G ratio of 6.00 and a beta of 0.69. International Business Machines Corporation has a 1-year low of $181.81 and a 1-year high of $296.16. The stock has a 50 day moving average of $276.39 and a two-hundred day moving average of $254.50.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the prior year, the business posted $1.68 earnings per share. The business's quarterly revenue was up .5% on a year-over-year basis. As a group, analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 2.38%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is 115.66%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. BMO Capital Markets boosted their price objective on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research report on Friday. Wedbush boosted their target price on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Bank of America lifted 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. KGI Securities set a $242.00 target price on International Business Machines and gave the company a "hold" rating in a research note on Thursday, April 24th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $266.19.

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.