International Business Machines Corporation (NYSE:IBM) Shares Bought by Mystic Asset Management Inc.

Mystic Asset Management Inc. raised its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 11.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,870 shares of the technology company's stock after acquiring an additional 2,013 shares during the quarter. International Business Machines makes up about 1.3% of Mystic Asset Management Inc.'s portfolio, making the stock its 17th biggest position. Mystic Asset Management Inc.'s holdings in International Business Machines were worth $4,941,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Forte Capital LLC ADV boosted its position in International Business Machines by 1.4% during the 1st quarter. Forte Capital LLC ADV now owns 8,667 shares of the technology company's stock valued at $2,155,000 after acquiring an additional 119 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in shares of International Business Machines by 3.0% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 494,828 shares of the technology company's stock worth $123,044,000 after purchasing an additional 14,556 shares in the last quarter. Kingsview Wealth Management LLC boosted its position in shares of International Business Machines by 102.6% in the 1st quarter. Kingsview Wealth Management LLC now owns 57,295 shares of the technology company's stock worth $14,247,000 after purchasing an additional 29,017 shares in the last quarter. Frederick Financial Consultants LLC boosted its position in shares of International Business Machines by 0.7% in the 1st quarter. Frederick Financial Consultants LLC now owns 6,422 shares of the technology company's stock worth $1,597,000 after purchasing an additional 44 shares in the last quarter. Finally, Bailard Inc. boosted its position in shares of International Business Machines by 63.1% in the 1st quarter. Bailard Inc. now owns 14,323 shares of the technology company's stock worth $3,562,000 after purchasing an additional 5,543 shares in the last quarter. Institutional investors own 58.96% of the company's stock.

Analyst Ratings Changes

IBM has been the subject of a number of recent analyst reports. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. BMO Capital Markets raised their price objective on International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research report on Friday. Bank of America raised their price objective on International Business Machines from $290.00 to $320.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Finally, Royal Bank Of Canada raised their price objective on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, nine have issued 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, International Business Machines presently has an average rating of "Moderate Buy" and an average target price of $266.19.

International Business Machines Stock Performance

Shares of IBM stock traded up $4.04 on Friday, hitting $286.04. The company had a trading volume of 4,465,031 shares, compared to its average volume of 4,227,467. The firm has a market cap of $265.85 billion, a P/E ratio of 49.23, a price-to-earnings-growth ratio of 5.92 and a beta of 0.69. The company has a 50-day moving average price of $275.65 and a 200-day moving average price of $253.56. 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 Corporation has a twelve month low of $181.81 and a twelve month high of $296.16.

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

International Business Machines Increases Dividend

The firm 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 is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.35%. 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.