MinichMacGregor Wealth Management LLC Invests $396,000 in International Business Machines Corporation (NYSE:IBM)

MinichMacGregor Wealth Management LLC bought a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,592 shares of the technology company's stock, valued at approximately $396,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Treasurer of the State of North Carolina raised its stake 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 purchasing an additional 4,131 shares in the last quarter. Mufg Securities Americas Inc. purchased a new stake in International Business Machines in the fourth quarter valued at approximately $3,000,000. Magnolia Private Wealth LLC purchased a new stake in International Business Machines in the first quarter valued at approximately $239,000. QRG Capital Management Inc. raised its stake in International Business Machines by 7.5% in the fourth quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company's stock valued at $33,118,000 after purchasing an additional 10,467 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. raised its stake in International Business Machines by 0.8% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 141,448 shares of the technology company's stock valued at $35,172,000 after purchasing an additional 1,058 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IBM has been the topic of several research reports. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the stock a "hold" rating in a research note on Thursday, April 24th. BMO Capital Markets reissued a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. UBS Group reissued a "sell" rating and set a $170.00 price target (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Bank of America lifted their price target on shares of International Business Machines from $290.00 to $320.00 and gave the stock a "buy" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, International Business Machines presently has a consensus rating of "Hold" and an average target price of $253.75.

International Business Machines Stock Performance

NYSE:IBM opened at $280.67 on Friday. The stock has a market cap of $260.85 billion, a P/E ratio of 48.31, a price-to-earnings-growth ratio of 5.90 and a beta of 0.66. The firm's fifty day simple moving average is $257.71 and its 200 day simple moving average is $245.64. International Business Machines Corporation has a twelve month low of $170.41 and a twelve month high of $286.91. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to analysts' expectations of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The firm's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.68 earnings per share. As a group, research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.39%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is 115.66%.

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.

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