NovaPoint Capital LLC Has $5 Million Position in International Business Machines Corporation (NYSE:IBM)

NovaPoint Capital LLC increased its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 4.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,097 shares of the technology company's stock after buying an additional 941 shares during the quarter. International Business Machines comprises 1.5% of NovaPoint Capital LLC's portfolio, making the stock its 16th largest position. NovaPoint Capital LLC's holdings in International Business Machines were worth $4,997,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in IBM. Capital World Investors raised its position in shares of International Business Machines by 413.5% in the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. Norges Bank acquired a new stake in International Business Machines in the fourth quarter valued at $1,236,176,000. GAMMA Investing LLC boosted its stake in International Business Machines by 29,564.2% during the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after acquiring an additional 4,384,958 shares during the last quarter. Raymond James Financial Inc. acquired a new position in International Business Machines during the 4th quarter worth $592,746,000. Finally, Northern Trust Corp increased its position in shares of International Business Machines by 18.6% in the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock worth $2,384,275,000 after purchasing an additional 1,704,209 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analyst Ratings Changes

IBM has been the topic of a number of research analyst reports. Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Bank of America upped 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, June 18th. KGI Securities set a $242.00 target price on International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. Royal Bank Of Canada lifted their price target on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Finally, Morgan Stanley cut their price objective 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $257.50.

International Business Machines Stock Down 1.2%

Shares of NYSE:IBM traded down $3.41 during midday trading on Wednesday, hitting $287.79. 3,256,085 shares of the stock were exchanged, compared to its average volume of 4,216,933. The company has a market capitalization of $267.47 billion, a PE ratio of 49.53, a P/E/G ratio of 6.19 and a beta of 0.69. International Business Machines Corporation has a 52-week low of $173.95 and a 52-week high of $296.16. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The business's fifty day simple moving average is $265.09 and its two-hundred day simple moving average is $248.52.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results 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 analyst estimates of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The firm's revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company earned $1.68 EPS. As a group, 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 announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.34%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is currently 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.