Ritholtz Wealth Management Acquires 2,362 Shares of International Business Machines Co. (NYSE:IBM)

Ritholtz Wealth Management grew its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 20.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,115 shares of the technology company's stock after buying an additional 2,362 shares during the period. Ritholtz Wealth Management's holdings in International Business Machines were worth $3,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Massachusetts Wealth Management grew its holdings in International Business Machines by 10.2% during the first quarter. Massachusetts Wealth Management now owns 4,858 shares of the technology company's stock worth $1,208,000 after acquiring an additional 448 shares during the period. Dohj LLC bought a new stake in shares of International Business Machines in the first quarter worth $225,000. MFA Wealth Services lifted its position in shares of International Business Machines by 2.4% in the 1st quarter. MFA Wealth Services now owns 2,465 shares of the technology company's stock worth $613,000 after buying an additional 57 shares during the last quarter. Missouri Trust & Investment Co increased its position in International Business Machines by 3.1% in the 1st quarter. Missouri Trust & Investment Co now owns 4,342 shares of the technology company's stock valued at $1,080,000 after acquiring an additional 130 shares during the period. Finally, Lakeridge Wealth Management LLC lifted its holdings in International Business Machines by 0.4% in the 1st quarter. Lakeridge Wealth Management LLC now owns 14,212 shares of the technology company's stock valued at $3,534,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Stock Performance

Shares of NYSE:IBM traded up $4.44 during midday trading on Monday, reaching $281.66. 3,681,949 shares of the company traded hands, compared to its average volume of 4,636,284. International Business Machines Co. has a 12 month low of $167.50 and a 12 month high of $284.50. The firm has a market capitalization of $261.77 billion, a price-to-earnings ratio of 43.94, a price-to-earnings-growth ratio of 5.81 and a beta of 0.66. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The firm's fifty day moving average price is $252.60 and its two-hundred day moving average price is $243.90.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion for the quarter, compared to analysts' expectations of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm's revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.68 earnings per share. On average, equities analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current 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 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 dividend on an annualized basis and a yield of 2.39%. International Business Machines's dividend payout ratio (DPR) is currently 115.66%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on IBM shares. Royal Bank of Canada raised their price objective on shares of International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Wedbush reiterated an "outperform" rating and issued a $300.00 target price on shares of International Business Machines in a research note on Wednesday, May 7th. Morgan Stanley dropped their price objective on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. BMO Capital Markets reaffirmed a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $250.31.

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.