Kingsview Wealth Management LLC Buys 29,017 Shares of International Business Machines Corporation (NYSE:IBM)

Kingsview Wealth Management LLC raised its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 102.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,295 shares of the technology company's stock after purchasing an additional 29,017 shares during the period. Kingsview Wealth Management LLC's holdings in International Business Machines were worth $14,247,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IBM. Wealth Dimensions Group Ltd. raised its position in International Business Machines by 1.0% in the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock valued at $873,000 after buying an additional 40 shares during the last quarter. Pallas Capital Advisors LLC raised its position in International Business Machines by 0.9% in the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock valued at $1,195,000 after buying an additional 42 shares during the last quarter. DMC Group LLC raised its position in International Business Machines by 1.2% in the 1st quarter. DMC Group LLC now owns 3,517 shares of the technology company's stock valued at $875,000 after buying an additional 42 shares during the last quarter. Titleist Asset Management LLC grew its stake 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 purchasing an additional 43 shares in the last quarter. Finally, Range Financial Group LLC grew its stake 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 purchasing an additional 43 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Up 1.4%

International Business Machines stock traded up $4.04 during trading hours on Friday, hitting $286.04. 4,465,031 shares of the stock traded hands, compared to its average volume of 4,227,467. The firm's 50-day moving average price is $275.65 and its two-hundred day moving average price is $253.56. 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 company has a market cap of $265.85 billion, a PE ratio of 49.23, a PEG ratio of 5.92 and a beta of 0.69. International Business Machines Corporation has a one year low of $181.81 and a one year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion for the quarter, compared to analysts' expectations 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 for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.68 EPS. On average, research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend 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 is presently 115.66%.

Analyst Upgrades and Downgrades

IBM has been the subject of a number of analyst reports. Royal Bank Of Canada raised their price target on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research note on Thursday. Melius Research upgraded International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. The Goldman Sachs Group raised their price target on International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Wall Street Zen downgraded International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, Wedbush lifted their target price on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $266.19.

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.