Kanawha Capital Management LLC Buys 2,099 Shares of International Business Machines Corporation (NYSE:IBM)

Kanawha Capital Management LLC raised its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 3.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,814 shares of the technology company's stock after acquiring an additional 2,099 shares during the period. International Business Machines makes up approximately 1.2% of Kanawha Capital Management LLC's holdings, making the stock its 27th biggest holding. Kanawha Capital Management LLC's holdings in International Business Machines were worth $15,868,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Penobscot Wealth Management bought a new stake in International Business Machines during the first quarter worth approximately $211,000. Moody Lynn & Lieberson LLC boosted its holdings in shares of International Business Machines by 1.6% in the 1st quarter. Moody Lynn & Lieberson LLC now owns 14,381 shares of the technology company's stock worth $3,576,000 after purchasing an additional 233 shares during the period. Aaron Wealth Advisors LLC boosted its holdings in shares of International Business Machines by 3.3% in the 1st quarter. Aaron Wealth Advisors LLC now owns 8,700 shares of the technology company's stock worth $2,163,000 after purchasing an additional 280 shares during the period. FSM Wealth Advisors LLC increased its position in shares of International Business Machines by 12.5% during the 1st quarter. FSM Wealth Advisors LLC now owns 3,045 shares of the technology company's stock valued at $757,000 after purchasing an additional 338 shares during the last quarter. Finally, NovaPoint Capital LLC increased its position in shares of International Business Machines by 4.9% during the 1st quarter. NovaPoint Capital LLC now owns 20,097 shares of the technology company's stock valued at $4,997,000 after purchasing an additional 941 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Up 1.4%

Shares of IBM traded up $4.01 during midday trading on Thursday, reaching $291.66. 1,853,289 shares of the stock were exchanged, compared to its average volume of 4,223,087. The company has a market capitalization of $271.06 billion, a P/E ratio of 50.20, a PEG ratio of 6.04 and a beta of 0.69. 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 Corporation has a 52 week low of $173.95 and a 52 week high of $296.16. The company's 50 day moving average is $267.18 and its two-hundred day moving average is $249.22.

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 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 company had revenue of $14.54 billion for the quarter, compared to analysts' expectations of $14.41 billion. During the same period in the prior year, the business earned $1.68 EPS. The firm's quarterly revenue was up .5% on a year-over-year basis. On average, sell-side analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed 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 represents a $6.72 annualized dividend and a yield of 2.30%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is presently 115.66%.

Analyst Upgrades and Downgrades

Several research firms have commented on IBM. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. UBS Group reaffirmed a "sell" rating and set a $170.00 price target (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Morgan Stanley reduced 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. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $257.50.

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.