Inspire Advisors LLC Has $956,000 Holdings in International Business Machines Corporation (NYSE:IBM)

Key Points

• Inspire Advisors LLC significantly increased its stake in International Business Machines Corporation (IBM) by 92.3%, owning 3,846 shares valued at approximately $956,000 as of the latest filing.
• Several institutional investors, including Keyvantage Wealth LLC and Spectrum Wealth Counsel LLC, also boosted their positions in IBM, signaling increased institutional confidence in the company.
• IBM reported $2.80 earnings per share for the last quarter, exceeding expectations and indicating a year-over-year revenue increase of 7.7%, reinforcing its strong financial performance.

Inspire Advisors LLC grew its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 92.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,846 shares of the technology company's stock after buying an additional 1,846 shares during the quarter. Inspire Advisors LLC's holdings in International Business Machines were worth $956,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Christopher J. Hasenberg Inc bought a new stake in shares of International Business Machines during the 1st quarter worth about $27,000. Measured Risk Portfolios Inc. bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $43,000. Park Square Financial Group LLC bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $43,000. Mascagni Wealth Management Inc. bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of International Business Machines in the first quarter worth approximately $45,000. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IBM. The Goldman Sachs Group lifted 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. Royal Bank Of Canada boosted their price objective on shares of International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. UBS Group boosted their price objective on shares of International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research report on Thursday. Melius Research raised shares of International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. Finally, KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the company a "hold" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $268.75.

International Business Machines Stock Performance

Shares of International Business Machines stock traded down $0.81 on Friday, reaching $259.70. The stock had a trading volume of 7,751,998 shares, compared to its average volume of 4,613,670. The business's 50-day moving average price is $277.69 and its two-hundred day moving average price is $256.27. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. International Business Machines Corporation has a fifty-two week low of $181.81 and a fifty-two week high of $296.16. The stock has a market cap of $241.36 billion, a P/E ratio of 42.16, a price-to-earnings-growth ratio of 4.01 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. During the same period in the previous year, the company earned $2.43 earnings per share. International Business Machines's revenue for the quarter was up 7.7% on a year-over-year basis. On average, sell-side analysts forecast 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. Stockholders of record on Friday, May 9th were paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.59%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is presently 109.09%.

International Business Machines Company 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.