Legacy Advisors LLC Has $1.99 Million Stake in International Business Machines Corporation (NYSE:IBM)

Legacy Advisors LLC boosted its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 39.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,995 shares of the technology company's stock after acquiring an additional 2,282 shares during the quarter. Legacy Advisors LLC's holdings in International Business Machines were worth $1,988,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vision Financial Markets LLC acquired a new position in shares of International Business Machines during the 4th quarter valued at about $31,000. Rialto Wealth Management LLC bought a new stake in International Business Machines during the fourth quarter worth approximately $35,000. Tacita Capital Inc raised its position in shares of International Business Machines by 174.3% in the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock valued at $42,000 after purchasing an additional 122 shares during the period. Park Square Financial Group LLC acquired a new stake in shares of International Business Machines in the fourth quarter worth $43,000. Finally, Measured Risk Portfolios Inc. acquired a new stake in shares of International Business Machines in the fourth quarter worth $43,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on IBM shares. BMO Capital Markets reissued a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. KGI Securities set a $242.00 target price on International Business Machines and gave the company a "hold" rating in a research note on Thursday, April 24th. Royal Bank Of Canada lifted their price target on International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Wall Street Zen cut International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, Wedbush boosted their target price on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $253.75.

International Business Machines Price Performance

NYSE:IBM traded down $2.41 during trading hours on Wednesday, reaching $291.38. The company had a trading volume of 3,855,195 shares, compared to its average volume of 4,217,302. The firm has a market capitalization of $270.81 billion, a PE ratio of 50.15, a PEG ratio of 6.07 and a beta of 0.66. 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 stock has a 50-day moving average of $259.78 and a two-hundred day moving average of $246.40. International Business Machines Corporation has a one year low of $170.41 and a one year high of $296.07.

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. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The company had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. During the same quarter in the previous year, the company posted $1.68 earnings per share. International Business Machines's quarterly revenue was up .5% compared to the same quarter last year. Analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders 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 dividend yield of 2.31%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is presently 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.