Spectrum Wealth Counsel LLC Raises Stock Holdings in International Business Machines Corporation (NYSE:IBM)

Key Points

• Spectrum Wealth Counsel LLC significantly boosted its stake in International Business Machines Corporation (IBM) by 2,133.0%, acquiring a total of 24,831 shares valued at $6,174,000.
• IBM reported a net revenue increase of 7.7% year-over-year, achieving $16.98 billion in revenue for the most recent quarter and beating analysts' expectations.
• The company announced a quarterly dividend increase to $1.68 per share, reflecting its commitment to returning value to shareholders with a 2.59% yield.

Spectrum Wealth Counsel LLC increased its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 2,133.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,831 shares of the technology company's stock after purchasing an additional 23,719 shares during the period. Spectrum Wealth Counsel LLC's holdings in International Business Machines were worth $6,174,000 at the end of the most recent reporting period.

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

International Business Machines Stock Down 0.3%

IBM stock opened at $259.70 on Friday. International Business Machines Corporation has a fifty-two week low of $181.81 and a fifty-two week high of $296.16. The business's 50-day moving average is $277.69 and its two-hundred day moving average is $256.04. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 0.91. The company has a market cap of $241.36 billion, a price-to-earnings ratio of 42.16, a P/E/G ratio of 5.50 and a beta of 0.69.

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

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a $1.68 dividend. This is an increase 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 2.59%. International Business Machines's dividend payout ratio is currently 109.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on IBM shares. Bank of America cut their target price on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research note on Thursday. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. KGI Securities set a $242.00 price target on International Business Machines and gave the company a "hold" rating in a report on Thursday, April 24th. UBS Group upped their price target on International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a report on Thursday. Finally, Royal Bank Of Canada upped their price target on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $268.75.

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.

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