Patron Partners LLC Buys New Shares in International Business Machines Corporation (NYSE:IBM)

Patron Partners LLC purchased a new position in International Business Machines Corporation (NYSE:IBM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,275 shares of the technology company's stock, valued at approximately $317,000.

Other institutional investors have also added to or reduced their stakes in the company. Vision Financial Markets LLC bought a new stake in International Business Machines in the fourth quarter valued at approximately $31,000. Rialto Wealth Management LLC bought a new stake in International Business Machines during the 4th quarter valued at $35,000. Tacita Capital Inc boosted its position in International Business Machines by 174.3% during the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock valued at $42,000 after buying an additional 122 shares during the period. Park Square Financial Group LLC bought a new stake in International Business Machines in the 4th quarter worth $43,000. Finally, Park Place Capital Corp increased its position in shares of International Business Machines by 42.6% in the first quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock valued at $48,000 after acquiring an additional 58 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 NYSE:IBM opened at $289.69 on Friday. The company has a market capitalization of $269.24 billion, a PE ratio of 49.86, a PEG ratio of 6.13 and a beta of 0.66. The business has a fifty day moving average price of $262.93 and a 200-day moving average price of $247.54. International Business Machines Corporation has a 1-year low of $170.53 and a 1-year high of $296.16. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The business had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. During the same period in the previous year, the company earned $1.68 earnings per share. The business's revenue for the quarter was up .5% compared to the same quarter last year. As a group, equities analysts expect that International Business Machines Corporation 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. Stockholders of record on Friday, May 9th were paid a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.32%. 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%.

Analyst Ratings Changes

IBM has been the topic of several recent analyst reports. Royal Bank Of Canada raised their target price on International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Wall Street Zen lowered International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Bank of America upped their target price on International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Wedbush lifted their price target on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Friday, June 20th. Finally, Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. One equities 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $253.75.

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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.