Saxon Interests Inc. Has $1.73 Million Stake in International Business Machines Corporation (NYSE:IBM)

Saxon Interests Inc. grew its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 97.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,967 shares of the technology company's stock after purchasing an additional 3,443 shares during the period. Saxon Interests Inc.'s holdings in International Business Machines were worth $1,732,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vision Financial Markets LLC acquired a new position in shares of International Business Machines during the 4th quarter worth about $31,000. Rialto Wealth Management LLC bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $35,000. Tacita Capital Inc lifted its position in International Business Machines by 174.3% in the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock worth $42,000 after purchasing an additional 122 shares during the period. Measured Risk Portfolios Inc. acquired a new stake in International Business Machines during the fourth quarter worth $43,000. Finally, Park Square Financial Group LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 58.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on IBM shares. Wall Street Zen downgraded International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. The Goldman Sachs Group increased their target price on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday. BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $257.50.

International Business Machines Trading Up 1.4%

International Business Machines stock traded up $4.01 during mid-day trading on Friday, hitting $291.66. 1,853,289 shares of the company's stock were exchanged, compared to its average volume of 4,223,087. International Business Machines Corporation has a fifty-two week low of $173.95 and a fifty-two week high of $296.16. The company's 50 day simple moving average is $267.18 and its 200-day simple moving average is $249.22. The firm has a market capitalization of $271.06 billion, a P/E ratio of 50.20, a PEG ratio of 6.04 and a beta of 0.69. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. 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 prior year, the business earned $1.68 EPS. International Business Machines's revenue for the quarter was up .5% compared to the same quarter last year. On average, equities analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current 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 dividend of $1.68 per share. This is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.30%. International Business Machines's dividend payout ratio (DPR) is currently 115.66%.

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.