Proficio Capital Partners LLC Raises Stake in International Business Machines Corporation (NYSE:IBM)

Proficio Capital Partners LLC grew its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 61.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,335 shares of the technology company's stock after purchasing an additional 1,649 shares during the quarter. Proficio Capital Partners LLC's holdings in International Business Machines were worth $1,078,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Christopher J. Hasenberg Inc purchased a new stake in International Business Machines during the 1st quarter valued at about $27,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of International Business Machines in the 1st quarter valued at approximately $45,000. Park Square Financial Group LLC acquired a new stake in International Business Machines during the fourth quarter worth $43,000. Park Place Capital Corp increased its stake in International Business Machines by 42.6% during the first quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock worth $48,000 after acquiring an additional 58 shares during the last quarter. Finally, Measured Risk Portfolios Inc. acquired a new stake in International Business Machines during the fourth quarter worth $43,000. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Stock Down 7.6%

Shares of IBM traded down $21.45 during midday trading on Thursday, reaching $260.56. The stock had a trading volume of 22,625,113 shares, compared to its average volume of 4,616,511. International Business Machines Corporation has a 1-year low of $181.81 and a 1-year high of $296.16. The company's fifty day simple moving average is $277.95 and its two-hundred day simple moving average is $255.30. The company has a market cap of $242.17 billion, a price-to-earnings ratio of 44.85, a PEG ratio of 6.01 and a beta of 0.69. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The business had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same period last year, the business earned $2.43 EPS. The company's revenue was up 7.7% on a year-over-year basis. Equities research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $1.68 dividend. This is an increase from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.58%. International Business Machines's payout ratio is presently 115.66%.

Analyst Upgrades and Downgrades

IBM has been the subject of several recent analyst reports. Royal Bank Of Canada raised their target price on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Wall Street Zen lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. Bank of America decreased their price objective on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, International Business Machines has an average rating of "Moderate Buy" and a consensus 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.