1,088 Shares in International Business Machines Corporation (NYSE:IBM) Acquired by Kellett Wealth Advisors LLC

Kellett Wealth Advisors LLC purchased a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,088 shares of the technology company's stock, valued at approximately $271,000.

Several other hedge funds have also made changes to their positions in IBM. Capital World Investors raised its holdings in shares of International Business Machines by 413.5% in the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. Norges Bank purchased a new position in International Business Machines in the fourth quarter valued at $1,236,176,000. GAMMA Investing LLC raised its stake in International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after buying an additional 4,384,958 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in International Business Machines during the 4th quarter worth about $592,746,000. Finally, Northern Trust Corp boosted its position in shares of International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock worth $2,384,275,000 after acquiring an additional 1,704,209 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Morgan Stanley cut 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 report on Thursday, April 24th. Wedbush upped their target price on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Friday, June 20th. Bank of America increased their target price on shares of International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Finally, BMO Capital Markets reissued a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, International Business Machines presently has an average rating of "Hold" and a consensus price target of $253.75.

International Business Machines Stock Performance

Shares of International Business Machines stock traded up $1.43 during trading hours on Thursday, hitting $292.49. 3,617,544 shares of the company were exchanged, compared to its average volume of 4,221,083. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. The business has a 50-day moving average of $260.83 and a 200-day moving average of $246.71. International Business Machines Corporation has a 1 year low of $170.48 and a 1 year high of $296.16. The stock has a market capitalization of $271.84 billion, a price-to-earnings ratio of 50.34, a P/E/G ratio of 6.11 and a beta of 0.66.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The business's revenue was up .5% on a year-over-year basis. During the same quarter last year, the business earned $1.68 EPS. As a group, analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal 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 dividend on an annualized basis 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 is currently 115.66%.

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.