Palumbo Wealth Management LLC Buys 1,320 Shares of International Business Machines Corporation (NYSE:IBM)

Palumbo Wealth Management LLC increased its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 14.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,436 shares of the technology company's stock after buying an additional 1,320 shares during the period. Palumbo Wealth Management LLC's holdings in International Business Machines were worth $2,595,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vision Financial Markets LLC bought a new stake in shares of International Business Machines in the 4th quarter valued at $31,000. Rialto Wealth Management LLC acquired a new stake in International Business Machines in the 4th quarter valued at $35,000. Tacita Capital Inc raised its holdings in International Business Machines by 174.3% during the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock worth $42,000 after buying an additional 122 shares during the last quarter. Measured Risk Portfolios Inc. bought a new position in shares of International Business Machines in the fourth quarter valued at $43,000. Finally, Park Square Financial Group LLC acquired a new position in shares of International Business Machines during the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on IBM shares. Wall Street Zen lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. BMO Capital Markets reissued a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. UBS Group reiterated a "sell" rating and set a $170.00 price target (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Morgan Stanley dropped their price objective on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Finally, Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $253.75.

International Business Machines Trading Up 2.9%

Shares of NYSE:IBM traded up $8.28 during midday trading on Monday, hitting $289.25. 3,777,773 shares of the stock traded hands, compared to its average volume of 4,221,287. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The stock has a market capitalization of $268.83 billion, a PE ratio of 49.78, a P/E/G ratio of 5.90 and a beta of 0.66. International Business Machines Corporation has a one year low of $170.41 and a one year high of $289.55. The business's 50 day moving average is $257.71 and its two-hundred day moving average is $245.71.

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 for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The firm had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same period last year, the company earned $1.68 EPS. The business's quarterly revenue was up .5% compared to the same quarter last year. As a group, research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently announced 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 boost 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 2.32%. International Business Machines's dividend payout ratio is currently 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.