International Business Machines Corporation $IBM Shares Bought by Bogart Wealth LLC

Key Points

• Bogart Wealth LLC increased its IBM position by 52.8% in the first quarter, adding 24,837 shares to bring its total to 71,902 shares worth about $17.4 million.
• IBM reported strong quarterly results, with EPS of $1.91 beating estimates and revenue of $15.92 billion also topping expectations; revenue rose 9.5% year over year.
• The company raised its quarterly dividend to $1.69 per share, and analysts currently have a Moderate Buy consensus rating with an average price target of $306.76.

Bogart Wealth LLC raised its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 52.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 71,902 shares of the technology company's stock after acquiring an additional 24,837 shares during the period. International Business Machines makes up 0.7% of Bogart Wealth LLC's investment portfolio, making the stock its 26th largest holding. Bogart Wealth LLC's holdings in International Business Machines were worth $17,428,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. CVA Family Office LLC raised its holdings in International Business Machines by 1.4% during the fourth quarter. CVA Family Office LLC now owns 2,389 shares of the technology company's stock worth $708,000 after purchasing an additional 33 shares in the last quarter. Foster Group Inc. lifted its position in International Business Machines by 1.3% in the fourth quarter. Foster Group Inc. now owns 2,507 shares of the technology company's stock valued at $742,000 after purchasing an additional 33 shares during the period. New Covenant Trust Company N.A. boosted its holdings in International Business Machines by 3.8% in the 4th quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company's stock valued at $264,000 after purchasing an additional 33 shares in the last quarter. McGowan Group Asset Management Inc. increased its position in International Business Machines by 1.2% during the 4th quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company's stock worth $798,000 after purchasing an additional 33 shares during the period. Finally, Altman Advisors Inc. increased its position in International Business Machines by 0.3% during the 3rd quarter. Altman Advisors Inc. now owns 9,929 shares of the technology company's stock worth $2,802,000 after purchasing an additional 34 shares during the period. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Trading Down 0.2%

Shares of International Business Machines stock opened at $288.95 on Monday. The company has a 50-day moving average of $256.99 and a two-hundred day moving average of $266.06. International Business Machines Corporation has a 12-month low of $212.34 and a 12-month high of $332.46. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. The stock has a market cap of $271.58 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 3.00 and a beta of 0.68.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.81 by $0.10. The business had revenue of $15.92 billion for the quarter, compared to analyst estimates of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The company's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.60 EPS. On average, research analysts anticipate that International Business Machines Corporation will post 12.4 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were issued a dividend of $1.69 per share. This is a boost from International Business Machines's previous quarterly dividend of $1.68. This represents a $6.76 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, May 8th. International Business Machines's payout ratio is presently 59.77%.

Wall Street Analyst Weigh In

Several research firms have recently commented on IBM. Citigroup raised their price target on International Business Machines from $285.00 to $375.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. Weiss Ratings lowered International Business Machines from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, June 24th. KeyCorp cut International Business Machines to a "sector weight" rating in a research report on Tuesday, June 23rd. Royal Bank Of Canada reissued an "outperform" rating on shares of International Business Machines in a report on Tuesday, June 23rd. Finally, Stifel Nicolaus set a $290.00 target price on shares of International Business Machines in a research report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $306.76.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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