Journey Strategic Wealth LLC Buys 5,782 Shares of International Business Machines Corporation (NYSE:IBM)

Journey Strategic Wealth LLC grew its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 58.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,671 shares of the technology company's stock after buying an additional 5,782 shares during the quarter. Journey Strategic Wealth LLC's holdings in International Business Machines were worth $3,897,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IBM. MinichMacGregor Wealth Management LLC bought a new stake in shares of International Business Machines in the 1st quarter worth approximately $396,000. Treasurer of the State of North Carolina raised its holdings in shares of International Business Machines by 0.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock worth $108,942,000 after purchasing an additional 4,131 shares in the last quarter. Left Brain Wealth Management LLC raised its holdings in shares of International Business Machines by 1,547.8% in the 1st quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock worth $4,392,000 after purchasing an additional 16,592 shares in the last quarter. Alpha Cubed Investments LLC raised its holdings in shares of International Business Machines by 47.0% during the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock valued at $1,867,000 after acquiring an additional 2,399 shares during the period. Finally, Wedbush Securities Inc. raised its holdings in shares of International Business Machines by 5.6% during the first quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company's stock valued at $15,434,000 after acquiring an additional 3,276 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Down 7.6%

IBM traded down $21.45 during trading on Thursday, reaching $260.56. 22,630,739 shares of the stock were exchanged, compared to its average volume of 3,452,532. The stock has a market cap of $242.17 billion, a P/E ratio of 42.30, a price-to-earnings-growth ratio of 6.01 and a beta of 0.69. International Business Machines Corporation has a twelve month low of $181.81 and a twelve month high of $296.16. The stock's 50 day moving average price is $277.83 and its two-hundred day moving average price is $255.57. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.65 by $0.15. The firm had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 38.09%. The company's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.43 earnings per share. Equities 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 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 is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.58%. International Business Machines's dividend payout ratio is currently 115.66%.

Wall Street Analyst Weigh In

IBM has been the topic of a number of recent analyst reports. Wedbush boosted their price target on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Friday, June 20th. UBS Group boosted their price target on shares of International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a report on Thursday. Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. Morgan Stanley lowered their price objective on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group boosted their target price on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $268.75.

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.