902 Shares in International Business Machines Corporation (NYSE:IBM) Acquired by Topsail Wealth Management LLC

Topsail Wealth Management LLC bought a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 902 shares of the technology company's stock, valued at approximately $224,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Axxcess Wealth Management LLC boosted its holdings in International Business Machines by 11.3% during the first quarter. Axxcess Wealth Management LLC now owns 21,131 shares of the technology company's stock worth $5,254,000 after buying an additional 2,150 shares in the last quarter. Rehmann Capital Advisory Group boosted its holdings in International Business Machines by 34.4% during the first quarter. Rehmann Capital Advisory Group now owns 14,406 shares of the technology company's stock worth $3,582,000 after buying an additional 3,689 shares in the last quarter. Cornerstone Planning Group LLC boosted its holdings in International Business Machines by 8.9% during the first quarter. Cornerstone Planning Group LLC now owns 1,177 shares of the technology company's stock worth $289,000 after buying an additional 96 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in International Business Machines by 8.7% during the first quarter. Linden Thomas Advisory Services LLC now owns 4,411 shares of the technology company's stock worth $1,097,000 after buying an additional 353 shares in the last quarter. Finally, Trek Financial LLC boosted its holdings in International Business Machines by 437.7% during the first quarter. Trek Financial LLC now owns 27,513 shares of the technology company's stock worth $6,841,000 after buying an additional 22,396 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Trading Down 1.4%

Shares of NYSE:IBM traded down $4.10 during trading on Friday, reaching $283.33. The stock had a trading volume of 3,789,706 shares, compared to its average volume of 4,238,068. The business has a fifty day moving average price of $273.18 and a 200-day moving average price of $252.11. 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 $263.33 billion, a P/E ratio of 48.77, a PEG ratio of 5.95 and a beta of 0.69. International Business Machines Corporation has a fifty-two week low of $181.81 and a fifty-two week high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last posted 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 business had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The company's revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.68 earnings per share. As a group, analysts anticipate 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. Investors of record on Friday, May 9th were given a dividend of $1.68 per share. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.37%. International Business Machines's dividend payout ratio is 115.66%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. UBS Group reissued a "sell" rating and set a $195.00 price objective (up previously from $170.00) on shares of International Business Machines in a report on Wednesday. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. BMO Capital Markets reaffirmed a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Royal Bank Of Canada upped their price target on shares of International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $259.06.

International Business Machines Company 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.