Left Brain Wealth Management LLC Increases Stake in International Business Machines Corporation (NYSE:IBM)

Left Brain Wealth Management LLC increased its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 1,547.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,664 shares of the technology company's stock after purchasing an additional 16,592 shares during the quarter. International Business Machines makes up 1.9% of Left Brain Wealth Management LLC's investment portfolio, making the stock its 21st biggest holding. Left Brain Wealth Management LLC's holdings in International Business Machines were worth $4,392,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Christopher J. Hasenberg Inc bought a new stake in International Business Machines during the first quarter valued at $27,000. Measured Risk Portfolios Inc. acquired a new position in shares of International Business Machines during the fourth quarter valued at about $43,000. Park Square Financial Group LLC acquired a new position in shares of International Business Machines during the fourth quarter valued at about $43,000. Mascagni Wealth Management Inc. acquired a new position in shares of International Business Machines during the fourth quarter valued at about $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of International Business Machines in the 1st quarter worth about $45,000. Institutional investors own 58.96% of the company's stock.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of analyst reports. Wedbush upped their target price on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Royal Bank Of Canada upped their target price on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, UBS Group reiterated a "sell" rating and issued a $195.00 price objective (up previously from $170.00) on shares of International Business Machines in a research note on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $259.06.

International Business Machines Stock Performance

Shares of International Business Machines stock traded up $0.27 on Monday, reaching $283.86. 2,856,987 shares of the company traded hands, compared to its average volume of 4,232,546. The company has a 50 day moving average of $273.18 and a 200 day moving average of $252.30. The firm has a market capitalization of $263.82 billion, a PE ratio of 48.86, a PEG ratio of 5.95 and a beta of 0.69. International Business Machines Corporation has a 52 week low of $181.81 and a 52 week high of $296.16. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data 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 company had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same period last year, the firm earned $1.68 EPS. International Business Machines's revenue for the quarter was up .5% on a year-over-year basis. Equities analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.37%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is 115.66%.

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.