TCP Asset Management LLC Invests $214,000 in International Business Machines Corporation (NYSE:IBM)

TCP Asset Management LLC purchased a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 862 shares of the technology company's stock, valued at approximately $214,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in International Business Machines by 5.9% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,446 shares of the technology company's stock worth $85,899,000 after buying an additional 19,177 shares in the last quarter. Lincoln Capital Corp bought a new position in shares of International Business Machines during the first quarter valued at approximately $205,000. Sterling Group Wealth Management LLC purchased a new position in shares of International Business Machines during the first quarter valued at about $201,000. RoundAngle Advisors LLC lifted its stake in shares of International Business Machines by 4.2% in the 1st quarter. RoundAngle Advisors LLC now owns 8,760 shares of the technology company's stock valued at $2,178,000 after purchasing an additional 356 shares during the period. Finally, RKL Wealth Management LLC lifted its position in International Business Machines by 1.5% during the first quarter. RKL Wealth Management LLC now owns 14,031 shares of the technology company's stock valued at $3,489,000 after buying an additional 210 shares during the period. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Price Performance

International Business Machines stock traded down $3.41 during trading hours on Wednesday, hitting $287.79. The stock had a trading volume of 3,256,085 shares, compared to its average volume of 4,216,933. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. The stock has a market capitalization of $267.47 billion, a price-to-earnings ratio of 49.53, a PEG ratio of 6.19 and a beta of 0.69. The stock's fifty day moving average is $265.09 and its two-hundred day moving average is $248.52. International Business Machines Corporation has a 1-year low of $173.95 and a 1-year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The firm's revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.68 EPS. As a group, analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.34%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is currently 115.66%.

Wall Street Analysts Forecast Growth

IBM has been the subject of several recent analyst reports. Morgan Stanley lowered their price target on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. UBS Group reaffirmed a "sell" rating and set a $170.00 price target (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Bank of America increased their price objective on International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Wall Street Zen downgraded International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, International Business Machines currently has an average rating of "Hold" and an average target price of $257.50.

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.