Tennessee Valley Asset Management Partners Makes New $221,000 Investment in International Business Machines Corporation (NYSE:IBM)

Tennessee Valley Asset Management Partners acquired a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 891 shares of the technology company's stock, valued at approximately $221,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tallon Kerry Patrick purchased a new stake in shares of International Business Machines during the 4th quarter worth $902,000. Brighton Jones LLC raised its position in shares of International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after acquiring an additional 2,323 shares in the last quarter. Principal Securities Inc. lifted its stake in International Business Machines by 12.5% during the fourth quarter. Principal Securities Inc. now owns 17,573 shares of the technology company's stock worth $3,863,000 after purchasing an additional 1,946 shares during the last quarter. Allworth Financial LP lifted its stake in International Business Machines by 45.0% during the fourth quarter. Allworth Financial LP now owns 61,008 shares of the technology company's stock worth $13,621,000 after purchasing an additional 18,926 shares during the last quarter. Finally, Strategic Financial Concepts LLC boosted its holdings in International Business Machines by 25.7% in the fourth quarter. Strategic Financial Concepts LLC now owns 3,743 shares of the technology company's stock valued at $823,000 after purchasing an additional 765 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on IBM shares. UBS Group reissued a "sell" rating and set a $170.00 price objective (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. BMO Capital Markets reiterated a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Morgan Stanley reduced their price target on shares of 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. Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, Royal Bank Of Canada boosted their target price on International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, International Business Machines currently has a consensus rating of "Hold" and an average target price of $253.75.

International Business Machines Stock Performance

NYSE:IBM traded down $2.54 during midday trading on Friday, reaching $280.67. The stock had a trading volume of 7,657,591 shares, compared to its average volume of 4,248,628. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The stock has a market cap of $260.85 billion, a P/E ratio of 48.31, a P/E/G ratio of 5.95 and a beta of 0.66. The firm has a fifty day simple moving average of $256.81 and a two-hundred day simple moving average of $245.20. International Business Machines Corporation has a 12-month low of $170.41 and a 12-month high of $286.91.

International Business Machines (NYSE:IBM - Get Free Report) last issued 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. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The business had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter in the previous year, the firm earned $1.68 earnings per share. The business's quarterly revenue was up .5% compared to the same quarter last year. On average, equities analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed 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 2.39%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is currently 115.66%.

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.