Leavell Investment Management Inc. Acquires 2,316 Shares of International Business Machines Corporation (NYSE:IBM)

Leavell Investment Management Inc. grew its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 12.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,474 shares of the technology company's stock after acquiring an additional 2,316 shares during the quarter. Leavell Investment Management Inc.'s holdings in International Business Machines were worth $5,340,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Measured Risk Portfolios Inc. purchased a new position in International Business Machines in the 4th quarter worth about $43,000. Park Square Financial Group LLC bought a new stake in shares of International Business Machines in the 4th quarter valued at about $43,000. Mascagni Wealth Management Inc. bought a new stake in shares of International Business Machines in the 4th quarter valued at about $43,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of International Business Machines in the 1st quarter valued at about $45,000. Finally, M & L Capital Management Ltd bought a new stake in shares of International Business Machines in the 4th quarter valued at about $48,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IBM. The Goldman Sachs Group raised their price target on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Morgan Stanley dropped their price target on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. 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. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $259.06.

International Business Machines Price Performance

Shares of IBM traded down $2.97 during trading hours on Friday, reaching $284.46. The stock had a trading volume of 1,612,071 shares, compared to its average volume of 4,496,087. International Business Machines Corporation has a 12 month low of $178.50 and a 12 month high of $296.16. The stock has a market capitalization of $264.38 billion, a PE ratio of 48.98, a PEG ratio of 6.09 and a beta of 0.69. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The company's 50-day moving average is $272.42 and its two-hundred day moving average is $251.52.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the previous year, the business earned $1.68 EPS. The firm's revenue was up .5% compared to the same quarter last year. Research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $1.68 dividend. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.36%. International Business Machines's dividend payout ratio is currently 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.