Lifeworks Advisors LLC Buys 2,561 Shares of International Business Machines Corporation (NYSE:IBM)

Lifeworks Advisors LLC increased its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 7.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,887 shares of the technology company's stock after buying an additional 2,561 shares during the quarter. International Business Machines comprises 1.5% of Lifeworks Advisors LLC's investment portfolio, making the stock its 13th biggest holding. Lifeworks Advisors LLC's holdings in International Business Machines were worth $8,924,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Wealth Dimensions Group Ltd. lifted its position in International Business Machines by 1.0% during the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock worth $873,000 after acquiring an additional 40 shares during the period. Pallas Capital Advisors LLC lifted its position in International Business Machines by 0.9% during the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock worth $1,195,000 after acquiring an additional 42 shares during the period. DMC Group LLC lifted its holdings in shares of International Business Machines by 1.2% in the 1st quarter. DMC Group LLC now owns 3,517 shares of the technology company's stock valued at $875,000 after buying an additional 42 shares during the period. Titleist Asset Management LLC lifted its holdings in shares of International Business Machines by 3.1% in the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock valued at $315,000 after buying an additional 43 shares during the period. Finally, Range Financial Group LLC lifted its holdings in shares of International Business Machines by 0.6% in the 1st quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock valued at $1,828,000 after buying an additional 43 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Down 7.6%

IBM traded down $21.45 during trading on Thursday, reaching $260.56. 22,630,739 shares of the stock traded hands, compared to its average volume of 3,452,532. International Business Machines Corporation has a fifty-two week low of $181.81 and a fifty-two week high of $296.16. The stock's 50-day simple moving average is $277.83 and its two-hundred day simple moving average is $255.57. The stock has a market cap of $242.17 billion, a price-to-earnings ratio of 42.30, a price-to-earnings-growth ratio of 6.01 and a beta of 0.69. 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 announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. International Business Machines had a return on equity of 38.09% and a net margin of 9.11%. The company had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. During the same quarter in the previous year, the firm earned $2.43 earnings per share. The business's quarterly revenue was up 7.7% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid 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 dividend on an annualized basis and a dividend yield of 2.58%. International Business Machines's payout ratio is presently 115.66%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IBM. Melius Research raised International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Wall Street Zen cut International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Bank of America reduced their price objective on International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a report on Thursday. Finally, Wedbush upped their target price on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a 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 two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of "Moderate Buy" and a consensus price target of $268.75.

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.