Octavia Wealth Advisors LLC Purchases New Position in International Business Machines Co. (NYSE:IBM)

Octavia Wealth Advisors LLC purchased a new stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,011 shares of the technology company's stock, valued at approximately $251,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. International Private Wealth Advisors LLC boosted its stake in shares of International Business Machines by 4.3% during the 1st quarter. International Private Wealth Advisors LLC now owns 1,651 shares of the technology company's stock worth $411,000 after acquiring an additional 68 shares during the last quarter. Tounjian Advisory Partners LLC bought a new position in International Business Machines in the 1st quarter worth $1,438,000. Pallas Capital Advisors LLC raised its holdings in International Business Machines by 0.9% in the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock worth $1,195,000 after purchasing an additional 42 shares during the period. Farther Finance Advisors LLC lifted its position in International Business Machines by 47.5% during the first quarter. Farther Finance Advisors LLC now owns 26,892 shares of the technology company's stock valued at $6,732,000 after purchasing an additional 8,664 shares in the last quarter. Finally, City Holding Co. grew its holdings in International Business Machines by 2.2% during the first quarter. City Holding Co. now owns 3,691 shares of the technology company's stock valued at $918,000 after purchasing an additional 78 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of IBM traded up $4.09 during midday trading on Tuesday, hitting $276.17. 5,160,847 shares of the company traded hands, compared to its average volume of 4,223,056. International Business Machines Co. has a 52 week low of $166.81 and a 52 week high of $277.43. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The firm has a 50 day moving average of $248.62 and a 200-day moving average of $242.46. The stock has a market cap of $256.67 billion, a price-to-earnings ratio of 43.08, a PEG ratio of 5.81 and a beta of 0.66.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The company had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same period in the prior year, the company earned $1.68 earnings per share. The firm's revenue was up .5% on a year-over-year basis. On average, analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.43%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is currently 115.66%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wall Street Zen downgraded International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Citigroup restated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. BMO Capital Markets reiterated 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 shares of International Business Machines and gave the company a "hold" rating in a research note on Thursday, April 24th. Finally, Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, International Business Machines presently has an average rating of "Hold" and a consensus target price of $250.31.

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.