Rochester Wealth Strategies LLC Invests $391,000 in International Business Machines Corporation (NYSE:IBM)

Rochester Wealth Strategies LLC acquired a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 1,574 shares of the technology company's stock, valued at approximately $391,000. International Business Machines accounts for about 0.3% of Rochester Wealth Strategies LLC's portfolio, making the stock its 16th biggest position.

Several other hedge funds and other institutional investors also recently modified their holdings of IBM. MinichMacGregor Wealth Management LLC acquired a new stake in International Business Machines in the first quarter valued at about $396,000. Treasurer of the State of North Carolina raised its stake in shares of International Business Machines by 0.8% during 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 buying an additional 4,131 shares in the last quarter. Mufg Securities Americas Inc. acquired a new stake in shares of International Business Machines in the 4th quarter valued at approximately $3,000,000. Magnolia Private Wealth LLC purchased a new stake in shares of International Business Machines in the first quarter valued at approximately $239,000. Finally, Ferguson Wellman Capital Management Inc. grew its holdings in International Business Machines by 0.8% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 141,448 shares of the technology company's stock worth $35,172,000 after acquiring an additional 1,058 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Trading Down 1.2%

Shares of IBM traded down $3.51 during mid-day trading on Tuesday, reaching $291.27. The company had a trading volume of 3,271,929 shares, compared to its average volume of 4,220,773. The stock has a market cap of $270.71 billion, a price-to-earnings ratio of 50.13, a price-to-earnings-growth ratio of 6.19 and a beta of 0.69. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. The firm has a fifty day simple moving average of $264.09 and a 200-day simple moving average of $248.22. International Business Machines Corporation has a fifty-two week low of $173.95 and a fifty-two week high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.68 earnings per share. On average, sell-side analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This is an increase from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.31%. International Business Machines's payout ratio is currently 115.66%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Bank of America raised their target price on shares of International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. UBS Group reaffirmed a "sell" rating and issued a $170.00 price target (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Wedbush upped their target price on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned 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 company currently has a consensus rating of "Hold" and a consensus price target of $253.75.

About International Business Machines

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.