Mirae Asset Global Investments Co. Ltd. Acquires 20,436 Shares of International Business Machines Corporation (NYSE:IBM)

Mirae Asset Global Investments Co. Ltd. increased its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 20.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 122,241 shares of the technology company's stock after purchasing an additional 20,436 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in International Business Machines were worth $29,838,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vision Financial Markets LLC bought a new position in International Business Machines in the fourth quarter worth $31,000. Rialto Wealth Management LLC bought a new position in International Business Machines in the fourth quarter worth $35,000. Tacita Capital Inc lifted its position in International Business Machines by 174.3% in the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock worth $42,000 after purchasing an additional 122 shares during the period. Park Square Financial Group LLC bought a new position in International Business Machines in the fourth quarter worth $43,000. Finally, Park Place Capital Corp lifted its position in International Business Machines by 42.6% in the first quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock worth $48,000 after purchasing an additional 58 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Down 0.8%

IBM stock traded down $2.24 during midday trading on Friday, reaching $289.69. The stock had a trading volume of 3,560,346 shares, compared to its average volume of 4,223,880. The business has a fifty day simple moving average of $262.93 and a two-hundred day simple moving average of $247.66. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The firm has a market cap of $269.24 billion, a price-to-earnings ratio of 49.86, a PEG ratio of 6.08 and a beta of 0.66. International Business Machines Corporation has a twelve month low of $173.38 and a twelve month 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 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $14.54 billion for the quarter, compared to analysts' expectations of $14.41 billion. During the same quarter last year, the business earned $1.68 earnings per share. The company's revenue was up .5% compared to the same quarter last year. As a group, research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.32%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is 115.66%.

Analyst Upgrades and Downgrades

IBM has been the subject of several recent analyst reports. BMO Capital Markets reiterated a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. KGI Securities set a $242.00 price objective on International Business Machines and gave the stock a "hold" rating in a research note on Thursday, April 24th. Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Royal Bank Of Canada increased their price objective on International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. 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 company's stock. According to MarketBeat.com, International Business Machines has an average rating of "Hold" and an average target price of $253.75.

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.