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

Leavell Investment Management Inc. grew its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 12.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,474 shares of the technology company's stock after purchasing an additional 2,316 shares during the period. 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 have also recently added to or reduced their stakes in IBM. Harel Insurance Investments & Financial Services Ltd. purchased a new position in International Business Machines during the 1st quarter valued at about $45,000. Park Square Financial Group LLC purchased a new stake in shares of International Business Machines in the 4th quarter worth approximately $43,000. Park Place Capital Corp grew its stake in shares of International Business Machines by 42.6% in the 1st quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock worth $48,000 after buying an additional 58 shares during the last quarter. Measured Risk Portfolios Inc. purchased a new stake in International Business Machines during the 4th quarter valued at $43,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in International Business Machines during the 4th quarter valued at $43,000. Institutional investors own 58.96% of the company's stock.

International Business Machines Trading Down 1.0%

IBM traded down $2.95 on Thursday, hitting $287.19. The company had a trading volume of 3,484,681 shares, compared to its average volume of 4,236,335. The company has a market cap of $266.91 billion, a PE ratio of 49.43, a PEG ratio of 6.10 and a beta of 0.69. International Business Machines Corporation has a 12-month low of $176.62 and a 12-month high of $296.16. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The business's fifty day simple moving average is $271.47 and its 200 day simple moving average is $251.07.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly 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. 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 last year, the business posted $1.68 earnings per share. The firm's revenue was up .5% on a year-over-year basis. Equities 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. Shareholders of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.34%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is 115.66%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IBM. Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. UBS Group reaffirmed a "sell" rating and issued a $195.00 target price (up from $170.00) on shares of International Business Machines in a report on Wednesday. Morgan Stanley decreased their target price on 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. Finally, Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $259.06.

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.