Keyvantage Wealth LLC Buys 11,661 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• Keyvantage Wealth LLC significantly increased its holdings in International Business Machines Corporation (NYSE:IBM) by 1,155.7%, now owning 12,670 shares valued at approximately $3.15 million.
• IBM reported quarterly earnings of $2.80 per share, exceeding the consensus estimate of $2.65, with revenues reaching $16.98 billion, representing a 7.7% increase year-over-year.
• The company recently raised its quarterly dividend to $1.68 per share, marking a yield of 2.59% and reflecting a payout ratio of 109.09%.

Keyvantage Wealth LLC raised its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 1,155.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,670 shares of the technology company's stock after purchasing an additional 11,661 shares during the period. International Business Machines accounts for approximately 1.5% of Keyvantage Wealth LLC's investment portfolio, making the stock its 20th biggest position. Keyvantage Wealth LLC's holdings in International Business Machines were worth $3,150,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital World Investors increased its stake in shares of International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after purchasing an additional 9,650,534 shares during the last quarter. GAMMA Investing LLC lifted its stake in International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock worth $10,940,520,000 after purchasing an additional 4,384,958 shares during the last quarter. Northern Trust Corp lifted its stake in International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock worth $2,384,275,000 after purchasing an additional 1,704,209 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new position in shares of International Business Machines during the fourth quarter valued at about $302,564,000. Finally, First Trust Advisors LP increased its position in shares of International Business Machines by 26.4% during the fourth quarter. First Trust Advisors LP now owns 4,023,989 shares of the technology company's stock valued at $884,593,000 after buying an additional 840,064 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

IBM traded down $0.81 during trading on Friday, reaching $259.70. 7,751,998 shares of the company's stock were exchanged, compared to its average volume of 4,613,670. 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 quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The business has a 50 day moving average price of $277.69 and a 200 day moving average price of $256.27. The company has a market capitalization of $241.36 billion, a P/E 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The business had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. During the same period in the previous year, the business posted $2.43 earnings per share. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal 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 an increase 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 (DPR) is currently 109.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on IBM shares. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. The Goldman Sachs Group raised their target price on shares of International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Bank of America dropped their price target on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a research note on Thursday. Wedbush boosted their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Finally, KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the stock a "hold" rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of "Moderate Buy" and a consensus target price of $268.75.

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.