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

Tennessee Valley Asset Management Partners purchased a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 891 shares of the technology company's stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IBM. Treasurer of the State of North Carolina grew its position in shares of International Business Machines by 0.8% in the fourth 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. Truist Financial Corp grew its position in shares of International Business Machines by 6.5% in the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock valued at $178,296,000 after purchasing an additional 49,591 shares during the period. Mufg Securities Americas Inc. acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $3,000,000. Magnolia Private Wealth LLC acquired a new stake in shares of International Business Machines in the first quarter valued at about $239,000. Finally, QRG Capital Management Inc. grew its position in shares of International Business Machines by 7.5% in the fourth quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company's stock valued at $33,118,000 after purchasing an additional 10,467 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Trading Up 0.0%

Shares of International Business Machines stock traded up $0.10 on Wednesday, reaching $283.15. The company had a trading volume of 3,531,800 shares, compared to its average volume of 4,234,993. The firm's 50 day moving average price is $254.78 and its two-hundred day moving average price is $244.55. The firm has a market cap of $263.16 billion, a PE ratio of 48.74, a PEG ratio of 5.94 and a beta of 0.66. International Business Machines Corporation has a 52-week low of $170.41 and a 52-week high of $286.88. 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 (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The business's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.68 earnings per share. Sell-side 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.37%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is 115.66%.

Analyst Ratings Changes

IBM has been the topic of a number of recent research reports. Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. UBS Group restated a "sell" rating and set a $170.00 price target (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Wedbush restated an "outperform" rating and set a $300.00 price target on shares of International Business Machines in a research report on Wednesday, May 7th. Citigroup restated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Finally, Royal Bank Of Canada boosted their price target on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $252.19.

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.