Smith Salley Wealth Management Has $3.57 Million Holdings in International Business Machines Corporation (NYSE:IBM)

Smith Salley Wealth Management increased its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 54.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,347 shares of the technology company's stock after acquiring an additional 5,053 shares during the period. Smith Salley Wealth Management's holdings in International Business Machines were worth $3,567,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in IBM. Vision Financial Markets LLC acquired a new stake in shares of International Business Machines in the 4th quarter valued at about $31,000. Rialto Wealth Management LLC acquired a new position in shares of International Business Machines during the fourth quarter worth about $35,000. Tacita Capital Inc grew its holdings in shares of International Business Machines by 174.3% during the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock worth $42,000 after buying an additional 122 shares in the last quarter. Measured Risk Portfolios Inc. acquired a new stake in International Business Machines in the 4th quarter valued at approximately $43,000. Finally, Park Square Financial Group LLC bought a new stake in International Business Machines in the 4th quarter valued at approximately $43,000. 58.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IBM has been the topic of a number of recent research reports. Wedbush lifted their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Friday, June 20th. Royal Bank Of Canada raised their target price on shares of International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. KGI Securities set a $242.00 price objective on International Business Machines and gave the company a "hold" rating in a report on Thursday, April 24th. Finally, Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $253.75.

International Business Machines Stock Performance

Shares of IBM stock traded down $3.51 during midday trading on Tuesday, hitting $291.27. 3,271,929 shares of the company were exchanged, compared to its average volume of 4,217,187. The firm has a market capitalization of $270.71 billion, a P/E ratio of 50.13, a PEG ratio of 6.08 and a beta of 0.66. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. International Business Machines Corporation has a 52 week low of $173.38 and a 52 week high of $296.16. The firm's 50 day moving average price is $264.09 and its two-hundred day moving average price is $248.22.

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, 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 company 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 earnings per share. The company's revenue was up .5% on a year-over-year basis. As a group, equities research 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 announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.31%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is presently 115.66%.

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.