Paragon Capital Management Ltd Acquires 3,320 Shares of International Business Machines Co. (NYSE:IBM)

Paragon Capital Management Ltd raised its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 258.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,606 shares of the technology company's stock after buying an additional 3,320 shares during the period. Paragon Capital Management Ltd's holdings in International Business Machines were worth $1,145,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in IBM. Treasurer of the State of North Carolina increased its stake in shares of International Business Machines by 0.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock worth $108,942,000 after purchasing an additional 4,131 shares in the last quarter. Blue Zone Wealth Advisors LLC purchased a new stake in shares of International Business Machines in the 4th quarter worth $242,000. Truist Financial Corp increased its stake in shares of International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock worth $178,296,000 after purchasing an additional 49,591 shares in the last quarter. Mufg Securities Americas Inc. purchased a new stake in shares of International Business Machines in the 4th quarter worth $3,000,000. Finally, Magnolia Private Wealth LLC purchased a new stake in shares of International Business Machines in the 1st quarter worth $239,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of IBM traded down $4.20 during midday trading on Friday, hitting $276.84. 3,242,911 shares of the company traded hands, compared to its average volume of 4,232,590. The firm has a 50 day moving average of $251.46 and a 200-day moving average of $243.34. International Business Machines Co. has a 52 week low of $167.23 and a 52 week high of $283.06. The stock has a market cap of $257.29 billion, a price-to-earnings ratio of 43.19, a PEG ratio of 5.81 and a beta of 0.66. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The business had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter in the prior year, the firm earned $1.68 EPS. The business'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 was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a $1.68 dividend. This is an increase 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 2.43%. International Business Machines's dividend payout ratio (DPR) is presently 115.66%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IBM. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. Morgan Stanley dropped their target price on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. UBS Group reaffirmed a "sell" rating and issued a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. 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. Finally, Wall Street Zen downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. One investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $250.31.

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.