Jackson Thornton Wealth Management LLC Buys Shares of 1,232 International Business Machines Corporation (NYSE:IBM)

Jackson Thornton Wealth Management LLC bought a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,232 shares of the technology company's stock, valued at approximately $294,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBM. Olde Wealth Management LLC bought a new position in International Business Machines during the first quarter worth $216,000. Truist Financial Corp increased its stake in International Business Machines by 4.4% in the first quarter. Truist Financial Corp now owns 846,424 shares of the technology company's stock valued at $210,472,000 after purchasing an additional 35,362 shares in the last quarter. Capital Investment Advisory Services LLC increased its stake in International Business Machines by 11.6% in the first quarter. Capital Investment Advisory Services LLC now owns 20,444 shares of the technology company's stock valued at $5,084,000 after purchasing an additional 2,123 shares in the last quarter. Impax Asset Management Group plc increased its stake in International Business Machines by 3.6% in the first quarter. Impax Asset Management Group plc now owns 12,455 shares of the technology company's stock valued at $3,097,000 after purchasing an additional 428 shares in the last quarter. Finally, Argyle Capital Management LLC increased its stake in International Business Machines by 0.8% in the first quarter. Argyle Capital Management LLC now owns 23,935 shares of the technology company's stock valued at $5,952,000 after purchasing an additional 195 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IBM. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Morgan Stanley decreased their price target on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Wall Street Zen downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Bank of America lifted their price target on shares of International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Finally, UBS Group reaffirmed a "sell" rating and issued a $170.00 price target (up from $160.00) on shares of International Business Machines in a research note 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 one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of "Hold" and a consensus price target of $257.50.

International Business Machines Stock Up 1.4%

Shares of NYSE:IBM traded up $4.01 during mid-day trading on Friday, hitting $291.66. 1,853,289 shares of the company traded hands, compared to its average volume of 4,231,670. International Business Machines Corporation has a 12-month low of $174.45 and a 12-month high of $296.16. The stock has a market cap of $271.06 billion, a P/E ratio of 50.20, a P/E/G ratio of 6.13 and a beta of 0.69. The stock has a 50-day moving average price of $268.36 and a two-hundred day moving average price of $249.65. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The business had revenue of $14.54 billion for the quarter, compared to analysts' expectations of $14.41 billion. During the same period in the previous 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, equities research analysts forecast 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 declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued 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 2.30%. International Business Machines's payout ratio is 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.