Stratos Wealth Advisors LLC grew its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 919.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,295 shares of the technology company's stock after purchasing an additional 48,066 shares during the period. Stratos Wealth Advisors LLC's holdings in International Business Machines were worth $13,253,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new position in International Business Machines during the fourth quarter worth $35,000. Measured Risk Portfolios Inc. purchased a new stake in shares of International Business Machines during the fourth quarter worth $43,000. Park Square Financial Group LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth $43,000. Mascagni Wealth Management Inc. purchased a new stake in shares of International Business Machines during the fourth quarter worth $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of International Business Machines during the first quarter worth $45,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.
International Business Machines Stock Down 1.0%
Shares of IBM traded down $2.95 during midday trading on Thursday, hitting $287.19. The company had a trading volume of 3,447,075 shares, compared to its average volume of 4,233,224. The company's 50 day moving average price is $271.47 and its 200 day moving average price is $251.07. The stock has a market cap of $266.91 billion, a price-to-earnings ratio of 49.43, a PEG ratio of 6.10 and a beta of 0.69. International Business Machines Corporation has a 52 week low of $174.45 and a 52 week high of $296.16. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09.
International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The company's revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.68 EPS. On average, equities research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.
International Business Machines Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.34%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is presently 115.66%.
Analysts Set New Price Targets
A number of analysts have recently weighed in on IBM shares. Wedbush upped their price objective on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Wall Street Zen lowered International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Bank of America upped their price objective on International Business Machines from $290.00 to $320.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Finally, The Goldman Sachs Group increased their target price on International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $259.06.
View Our Latest Research Report on IBM
International Business Machines Company Profile
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Free Report)
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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