Rossby Financial LCC Buys 1,000 Shares of International Business Machines Corporation (NYSE:IBM)

Rossby Financial LCC increased its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 89.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,119 shares of the technology company's stock after purchasing an additional 1,000 shares during the quarter. Rossby Financial LCC's holdings in International Business Machines were worth $492,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vision Financial Markets LLC bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $31,000. Rialto Wealth Management LLC bought a new stake in shares of International Business Machines in the fourth quarter valued at $35,000. Tacita Capital Inc lifted its position in shares of International Business Machines by 174.3% during the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock valued at $42,000 after buying an additional 122 shares during the last quarter. Measured Risk Portfolios Inc. bought a new position in shares of International Business Machines during the 4th quarter worth $43,000. Finally, Park Square Financial Group LLC purchased a new stake in International Business Machines in the 4th quarter worth about $43,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Down 1.2%

Shares of NYSE:IBM traded down $3.41 on Wednesday, hitting $287.79. 3,256,085 shares of the company traded hands, compared to its average volume of 4,216,933. International Business Machines Corporation has a 52 week low of $173.95 and a 52 week high of $296.16. The stock has a 50 day simple moving average of $265.09 and a 200-day simple moving average of $248.52. The company has a market cap of $267.47 billion, a PE ratio of 49.53, a PEG ratio of 6.19 and a beta of 0.69. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09.

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

International Business Machines Increases Dividend

The company also recently announced 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 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 dividend yield of 2.34%. International Business Machines's payout ratio is 115.66%.

Analysts Set New Price Targets

IBM has been the subject of a number of research reports. Wedbush increased their target price on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Bank of America boosted their price objective on International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Finally, KGI Securities set a $242.00 price objective on International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $257.50.

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.