Kellett Wealth Advisors LLC Buys New Stake in International Business Machines Corporation (NYSE:IBM)

Kellett Wealth Advisors LLC purchased a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,088 shares of the technology company's stock, valued at approximately $271,000.

A number of other large investors have also added to or reduced their stakes in IBM. MinichMacGregor Wealth Management LLC purchased a new position in International Business Machines in the first quarter worth about $396,000. Treasurer of the State of North Carolina lifted its stake in shares of International Business Machines by 0.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock valued at $108,942,000 after purchasing an additional 4,131 shares during the last quarter. Mufg Securities Americas Inc. purchased a new position in shares of International Business Machines in the 4th quarter worth approximately $3,000,000. Magnolia Private Wealth LLC bought a new position in shares of International Business Machines during the 1st quarter valued at approximately $239,000. Finally, QRG Capital Management Inc. raised its holdings in International Business Machines by 7.5% during the 4th quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company's stock valued at $33,118,000 after buying an additional 10,467 shares during the period. Institutional investors own 58.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently 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. BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. UBS Group reiterated a "sell" rating and set a $170.00 target price (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Bank of America lifted their price objective on shares of International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, International Business Machines has an average rating of "Hold" and a consensus target price of $253.75.

International Business Machines Stock Down 0.8%

Shares of NYSE IBM traded down $2.24 during midday trading on Friday, reaching $289.69. 3,560,346 shares of the company's stock traded hands, compared to its average volume of 4,223,758. The company has a market cap of $269.24 billion, a price-to-earnings ratio of 49.86, a P/E/G ratio of 6.13 and a beta of 0.66. The stock's 50 day simple moving average is $262.93 and its 200-day simple moving average is $247.54. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a one year low of $170.53 and a one year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The company had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same quarter in the prior year, the business earned $1.68 earnings per share. International Business Machines's revenue was up .5% on a year-over-year basis. On average, analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.32%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is presently 115.66%.

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.