Serenus Wealth Advisors LLC Invests $317,000 in International Business Machines Corporation (NYSE:IBM)

Key Points

• Serenus Wealth Advisors LLC invested approximately $317,000 in International Business Machines Corporation (IBM) by acquiring 1,275 shares in the first quarter.
• IBM's recent earnings report showed a 7.7% increase in revenue compared to last year, with EPS of $2.80, exceeding analysts' expectations.
• The company announced a quarterly dividend increase to $1.68 per share, reflecting a 2.59% dividend yield and a payout ratio of 109.09%.

Serenus Wealth Advisors LLC acquired a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,275 shares of the technology company's stock, valued at approximately $317,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Capital World Investors boosted its holdings in shares of International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after buying an additional 9,650,534 shares during the period. Norges Bank bought a new stake in International Business Machines in the 4th quarter valued at about $1,236,176,000. GAMMA Investing LLC boosted its holdings in International Business Machines by 29,564.2% in the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after purchasing an additional 4,384,958 shares during the period. Northern Trust Corp boosted its holdings in International Business Machines by 18.6% in the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after purchasing an additional 1,704,209 shares during the period. Finally, Castlekeep Investment Advisors LLC bought a new stake in International Business Machines in the 4th quarter valued at about $302,564,000. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

Shares of NYSE IBM traded down $0.95 during midday trading on Tuesday, hitting $262.27. The company's stock had a trading volume of 1,930,391 shares, compared to its average volume of 4,623,653. The stock has a fifty day moving average price of $277.59 and a 200 day moving average price of $256.57. International Business Machines Corporation has a one year low of $181.81 and a one year high of $296.16. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $243.75 billion, a price-to-earnings ratio of 42.57, a P/E/G ratio of 4.01 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.15. The company had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.43 earnings per share. On average, research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IBM has been the subject of a number of recent research reports. Citigroup reissued an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. BMO Capital Markets upped their target price on International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research note on Friday, July 18th. Royal Bank Of Canada upped their target price on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. upped their target price on International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Finally, Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $268.75.

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.