International Business Machines Corporation (NYSE:IBM) Shares Acquired by OneAscent Financial Services LLC

OneAscent Financial Services LLC lifted its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 102.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,074 shares of the technology company's stock after purchasing an additional 4,083 shares during the period. OneAscent Financial Services LLC's holdings in International Business Machines were worth $2,012,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Dimensions Group Ltd. lifted its holdings in International Business Machines by 1.0% in the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock valued at $873,000 after acquiring an additional 40 shares during the last quarter. Pallas Capital Advisors LLC lifted its holdings in International Business Machines by 0.9% in the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock valued at $1,195,000 after acquiring an additional 42 shares during the last quarter. DMC Group LLC lifted its holdings in International Business Machines by 1.2% in the first quarter. DMC Group LLC now owns 3,517 shares of the technology company's stock valued at $875,000 after acquiring an additional 42 shares during the last quarter. Titleist Asset Management LLC lifted its holdings in International Business Machines by 3.1% in the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock valued at $315,000 after acquiring an additional 43 shares during the last quarter. Finally, Range Financial Group LLC lifted its holdings in International Business Machines by 0.6% in the first quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock valued at $1,828,000 after acquiring an additional 43 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. BMO Capital Markets boosted their target price on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research report on Friday. Morgan Stanley cut their target price on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Bank of America boosted their target price on International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, UBS Group reaffirmed a "sell" rating and set a $195.00 price objective (up previously from $170.00) on shares of International Business Machines in a research report on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, International Business Machines currently has a consensus rating of "Moderate Buy" and an average target price of $266.19.

International Business Machines Price Performance

Shares of IBM opened at $286.04 on Friday. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The company has a market capitalization of $265.85 billion, a price-to-earnings ratio of 49.23, a price-to-earnings-growth ratio of 6.00 and a beta of 0.69. International Business Machines Corporation has a fifty-two week low of $181.81 and a fifty-two week high of $296.16. The firm has a 50-day simple moving average of $276.39 and a 200-day simple moving average of $254.26.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter last year, the firm earned $1.68 earnings per share. The firm's revenue was up .5% compared to the same quarter last year. On average, equities research analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.35%. 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 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.

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