Sage Rhino Capital LLC Purchases Shares of 895 International Business Machines Corporation (NYSE:IBM)

Sage Rhino Capital LLC purchased a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 895 shares of the technology company's stock, valued at approximately $223,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc acquired a new position in shares of International Business Machines in the first quarter worth about $27,000. Measured Risk Portfolios Inc. acquired a new position in shares of International Business Machines in the fourth quarter worth about $43,000. Park Square Financial Group LLC acquired a new position in shares of International Business Machines in the fourth quarter worth about $43,000. Mascagni Wealth Management Inc. acquired a new position in shares of International Business Machines in the fourth quarter worth about $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of International Business Machines in the first quarter worth about $45,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Down 1.0%

Shares of NYSE IBM opened at $287.19 on Friday. The company has a 50 day simple moving average of $272.42 and a 200-day simple moving average of $251.52. The company has a market capitalization of $266.91 billion, a P/E ratio of 49.43, a P/E/G ratio of 6.09 and a beta of 0.69. 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 Corporation has a 1 year low of $176.62 and a 1 year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating 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 firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter last year, the firm earned $1.68 EPS. The firm's revenue for the quarter was up .5% on a year-over-year basis. On average, equities research analysts predict 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. Investors of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.34%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is 115.66%.

Wall Street Analyst Weigh In

IBM has been the subject of a number of analyst reports. Morgan Stanley decreased their price objective on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a research report on Monday. Wedbush raised their price target on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. Wall Street Zen lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, The Goldman Sachs Group raised their price target on shares of International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $259.06.

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.

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