Strategic Financial Concepts LLC Acquires 5,632 Shares of International Business Machines Corporation (NYSE:IBM)

Strategic Financial Concepts LLC boosted its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 150.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,375 shares of the technology company's stock after purchasing an additional 5,632 shares during the quarter. Strategic Financial Concepts LLC's holdings in International Business Machines were worth $2,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. MinichMacGregor Wealth Management LLC bought a new position in shares of International Business Machines in the first quarter worth approximately $396,000. Treasurer of the State of North Carolina raised its position in shares of International Business Machines by 0.8% during the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock valued at $108,942,000 after purchasing an additional 4,131 shares during the period. Mufg Securities Americas Inc. purchased a new position in International Business Machines during the fourth quarter valued at $3,000,000. Magnolia Private Wealth LLC purchased a new position in shares of International Business Machines in the 1st quarter worth $239,000. Finally, Ferguson Wellman Capital Management Inc. grew its stake in shares of International Business Machines by 0.8% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 141,448 shares of the technology company's stock worth $35,172,000 after buying an additional 1,058 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Performance

International Business Machines stock traded up $4.01 during mid-day trading on Thursday, reaching $291.66. 1,853,289 shares of the company's stock were exchanged, compared to its average volume of 4,223,087. The business's fifty day simple moving average is $265.93 and its 200 day simple moving average is $248.79. The firm has a market capitalization of $271.06 billion, a PE ratio of 50.20, a P/E/G ratio of 6.04 and a beta of 0.69. International Business Machines Corporation has a one year low of $173.95 and a one year high of $296.16. 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 EPS for the quarter, topping the consensus estimate 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 previous year, the business earned $1.68 earnings per share. The firm's revenue was up .5% on a year-over-year basis. On average, sell-side analysts expect 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 paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.30%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is currently 115.66%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Morgan Stanley lowered their price target on shares of 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. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the company a "hold" rating in a report on Thursday, April 24th. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Finally, The Goldman Sachs Group lifted 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 note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $257.50.

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.