International Business Machines Corporation (NYSE:IBM) Shares Bought by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group grew its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 34.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,406 shares of the technology company's stock after acquiring an additional 3,689 shares during the quarter. Rehmann Capital Advisory Group's holdings in International Business Machines were worth $3,582,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in International Business Machines during the 1st quarter worth approximately $45,000. Park Square Financial Group LLC acquired a new stake in International Business Machines during the 4th quarter worth approximately $43,000. Park Place Capital Corp increased its position in International Business Machines by 42.6% during the 1st quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock worth $48,000 after purchasing an additional 58 shares in the last quarter. Measured Risk Portfolios Inc. acquired a new stake in International Business Machines during the 4th quarter worth approximately $43,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in International Business Machines during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Trading Down 0.7%

Shares of International Business Machines stock opened at $290.56 on Wednesday. The company's fifty day simple moving average is $270.51 and its 200-day simple moving average is $250.80. The company has a market cap of $270.05 billion, a price-to-earnings ratio of 50.01, a PEG ratio of 6.14 and a beta of 0.69. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a 1 year low of $174.45 and a 1 year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. The firm had revenue of $14.54 billion during 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%. International Business Machines's quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the business earned $1.68 earnings per share. As a group, sell-side analysts expect 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. Investors of record on Friday, May 9th were issued 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 yield of 2.31%. International Business Machines's dividend payout ratio (DPR) is currently 115.66%.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of analyst reports. Citigroup restated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. Royal Bank Of Canada raised their price target on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Finally, UBS Group reissued a "sell" rating on shares of International Business Machines in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $257.50.

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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