Trek Financial LLC Grows Holdings in International Business Machines Corporation (NYSE:IBM)

Trek Financial LLC grew its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 437.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,513 shares of the technology company's stock after acquiring an additional 22,396 shares during the quarter. Trek Financial LLC's holdings in International Business Machines were worth $6,841,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake 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 during the last quarter. Proficio Capital Partners LLC lifted its position in International Business Machines by 81.5% during the fourth quarter. Proficio Capital Partners LLC now owns 2,686 shares of the technology company's stock valued at $591,000 after purchasing an additional 1,206 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in International Business Machines by 33.8% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 20,578 shares of the technology company's stock valued at $4,992,000 after purchasing an additional 5,194 shares in the last quarter. Rialto Wealth Management LLC purchased a new position in International Business Machines during the fourth quarter valued at $35,000. Finally, Simplicity Wealth LLC lifted its position in shares of International Business Machines by 5.3% during the 4th quarter. Simplicity Wealth LLC now owns 10,015 shares of the technology company's stock valued at $2,202,000 after buying an additional 507 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Trading Down 0.3%

IBM stock traded down $1.01 during midday trading on Wednesday, reaching $289.41. 848,985 shares of the company traded hands, compared to its average volume of 4,221,186. International Business Machines Corporation has a 52-week low of $174.45 and a 52-week high of $296.16. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The business has a 50 day moving average of $270.51 and a 200-day moving average of $250.80. The firm has a market capitalization of $268.98 billion, a price-to-earnings ratio of 49.81, a P/E/G ratio of 6.14 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly 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 return on equity of 37.43% and a net margin of 8.71%. The company had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same quarter in the prior year, the firm posted $1.68 EPS. International Business Machines's quarterly revenue was up .5% compared to the same quarter last year. As a group, sell-side analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a $1.68 dividend. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.32%. International Business Machines's dividend payout ratio is 115.66%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on IBM shares. 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. Wedbush lifted their target price on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. Wall Street Zen cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. 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 company's stock. According to data from MarketBeat, International Business Machines presently has an average rating of "Hold" and a consensus price target of $259.06.

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.