Sagespring Wealth Partners LLC Acquires 1,991 Shares of International Business Machines Co. (NYSE:IBM)

Sagespring Wealth Partners LLC raised its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 8.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,762 shares of the technology company's stock after acquiring an additional 1,991 shares during the period. Sagespring Wealth Partners LLC's holdings in International Business Machines were worth $6,406,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Tallon Kerry Patrick bought a new position in International Business Machines in the fourth quarter valued at about $902,000. Brighton Jones LLC grew its holdings in shares of International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after purchasing an additional 2,323 shares during the last quarter. ABC Arbitrage SA bought a new stake in shares of International Business Machines during the fourth quarter worth about $1,277,000. Montag A & Associates Inc. grew its holdings in shares of International Business Machines by 0.5% during the fourth quarter. Montag A & Associates Inc. now owns 18,464 shares of the technology company's stock worth $4,059,000 after purchasing an additional 100 shares during the last quarter. Finally, Beacon Capital Management LLC grew its holdings in shares of International Business Machines by 2.7% during the fourth quarter. Beacon Capital Management LLC now owns 2,486 shares of the technology company's stock worth $546,000 after purchasing an additional 65 shares during the last quarter. Institutional investors own 58.96% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Morgan Stanley reduced their price target on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Bank of America lifted their price objective on International Business Machines from $270.00 to $290.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Wall Street Zen lowered International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. One 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of "Hold" and an average target price of $250.31.

International Business Machines Trading Down 1.5%

NYSE IBM opened at $276.84 on Monday. The company has a market cap of $257.29 billion, a price-to-earnings ratio of 43.19, a P/E/G ratio of 5.81 and a beta of 0.66. International Business Machines Co. has a 52 week low of $167.50 and a 52 week high of $283.06. The business has a 50 day moving average price of $252.60 and a 200-day moving average price of $243.90. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

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 return on equity of 38.99% and a net margin of 9.60%. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter in the previous year, the company posted $1.68 earnings per share. The company's quarterly revenue was up .5% on a year-over-year basis. As a group, equities analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a $1.68 dividend. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.43%. International Business Machines's dividend payout ratio is presently 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.

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