Concord Wealth Partners Buys 2,615 Shares of International Business Machines Corporation (NYSE:IBM)

Concord Wealth Partners raised its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 175.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,105 shares of the technology company's stock after acquiring an additional 2,615 shares during the period. Concord Wealth Partners' holdings in International Business Machines were worth $1,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. MinichMacGregor Wealth Management LLC purchased a new stake in International Business Machines during the 1st quarter valued at $396,000. Treasurer of the State of North Carolina raised its holdings in International Business Machines by 0.8% during the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock valued at $108,942,000 after buying an additional 4,131 shares during the period. Left Brain Wealth Management LLC raised its holdings in International Business Machines by 1,547.8% during the 1st quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock valued at $4,392,000 after buying an additional 16,592 shares during the period. Alpha Cubed Investments LLC raised its holdings in International Business Machines by 47.0% during the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock valued at $1,867,000 after buying an additional 2,399 shares during the period. Finally, Mufg Securities Americas Inc. bought a new position in International Business Machines in the 4th quarter valued at $3,000,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. BMO Capital Markets upped their price objective on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research report on Friday. Royal Bank Of Canada upped their price objective on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Wall Street Zen downgraded International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $266.19.

International Business Machines Stock Up 1.4%

Shares of IBM traded up $4.04 during midday trading on Friday, reaching $286.04. 4,465,031 shares of the stock were exchanged, compared to its average volume of 4,227,467. International Business Machines Corporation has a 52 week low of $181.81 and a 52 week high of $296.16. 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's 50 day moving average is $275.65 and its two-hundred day moving average is $253.56. The company has a market capitalization of $265.85 billion, a P/E ratio of 49.23, a PEG ratio of 5.92 and a beta of 0.69.

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 for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The company had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter last year, the company earned $1.68 earnings per share. The firm's revenue for the quarter was up .5% compared to the same quarter last year. On average, sell-side analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.35%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is presently 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.