Kingsman Wealth Management Inc. Takes $436,000 Position in International Business Machines Corporation (NYSE:IBM)

Kingsman Wealth Management Inc. purchased a new position in International Business Machines Corporation (NYSE:IBM - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,752 shares of the technology company's stock, valued at approximately $436,000.

Other institutional investors have also recently made changes to their positions in the company. MinichMacGregor Wealth Management LLC purchased a new position in International Business Machines in the first quarter valued at $396,000. Treasurer of the State of North Carolina increased its holdings in International Business Machines by 0.8% in the fourth 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 buying an additional 4,131 shares in the last quarter. Left Brain Wealth Management LLC increased its stake in shares of International Business Machines by 1,547.8% during the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock worth $4,392,000 after purchasing an additional 16,592 shares in the last quarter. Alpha Cubed Investments LLC increased its stake in shares of International Business Machines by 47.0% during the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after purchasing an additional 2,399 shares in the last quarter. Finally, Magnolia Private Wealth LLC purchased a new stake in shares of International Business Machines during the first quarter worth about $239,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Stock Down 0.5%

IBM traded down $1.35 during trading on Monday, hitting $284.52. The company had a trading volume of 3,047,765 shares, compared to its average volume of 4,227,370. The company has a market cap of $264.43 billion, a PE ratio of 27.89, a P/E/G ratio of 6.00 and a beta of 0.69. International Business Machines Corporation has a 1-year low of $181.81 and a 1-year high of $296.16. The business has a 50-day moving average of $276.39 and a 200-day moving average of $254.50. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. International Business Machines's revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $1.68 EPS. As a group, 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 announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.36%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is presently 115.66%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IBM. Morgan Stanley dropped their price objective 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. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Stifel Nicolaus boosted their target price on shares of International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, Wall Street Zen cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $266.19.

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.