International Business Machines Corporation (NYSE:IBM) Shares Bought by Cullinan Associates Inc.

Cullinan Associates Inc. grew its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 124,385 shares of the technology company's stock after purchasing an additional 1,630 shares during the quarter. International Business Machines accounts for 2.2% of Cullinan Associates Inc.'s investment portfolio, making the stock its 11th biggest position. Cullinan Associates Inc.'s holdings in International Business Machines were worth $30,930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the business. JBR Co Financial Management Inc increased its position in shares of International Business Machines by 0.6% during the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company's stock worth $1,405,000 after acquiring an additional 40 shares during the last quarter. Wealth Dimensions Group Ltd. increased its position in shares of International Business Machines by 1.0% during the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock worth $873,000 after acquiring an additional 40 shares during the last quarter. Pallas Capital Advisors LLC increased its position in shares of International Business Machines by 0.9% during the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock worth $1,195,000 after acquiring an additional 42 shares during the last quarter. Schechter Investment Advisors LLC increased its holdings in International Business Machines by 0.7% in the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company's stock valued at $1,396,000 after buying an additional 43 shares during the last quarter. Finally, Titleist Asset Management LLC increased 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 buying an additional 43 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on IBM shares. Wall Street Zen lowered International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. UBS Group reissued a "sell" rating and issued a $170.00 price objective (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Morgan Stanley lowered their price objective on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Wedbush boosted their price objective on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Friday. Finally, Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $253.75.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $280.67 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. The stock has a 50 day simple moving average of $257.71 and a 200-day simple moving average of $245.64. The company has a market cap of $260.85 billion, a PE ratio of 48.31, a P/E/G ratio of 5.90 and a beta of 0.66. International Business Machines Corporation has a 12-month low of $170.41 and a 12-month high of $286.91.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The business's revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.68 earnings per share. On average, equities research analysts forecast that International Business Machines Corporation will post 10.78 EPS 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 given 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 dividend yield of 2.39%. International Business Machines's payout ratio is currently 115.66%.

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.

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