TRU Independence Asset Management 2 LLC Buys New Position in International Business Machines Corporation (NYSE:IBM)

TRU Independence Asset Management 2 LLC purchased a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,206 shares of the technology company's stock, valued at approximately $298,000.

A number of other hedge funds also recently modified their holdings of IBM. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in International Business Machines in the 1st quarter worth about $45,000. Park Square Financial Group LLC bought a new stake in shares of International Business Machines during the 4th quarter valued at approximately $43,000. Park Place Capital Corp grew its holdings in shares of International Business Machines by 42.6% during the 1st quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock valued at $48,000 after purchasing an additional 58 shares during the last quarter. Measured Risk Portfolios Inc. bought a new stake in International Business Machines during the 4th quarter worth approximately $43,000. Finally, Mascagni Wealth Management Inc. bought a new stake in International Business Machines during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 58.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on IBM shares. Bank of America boosted their target price on shares of International Business Machines from $290.00 to $320.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. The Goldman Sachs Group upped their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Wall Street Zen downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Finally, Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. One research 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 stock. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of "Moderate Buy" and a consensus price target of $259.06.

International Business Machines Stock Performance

NYSE:IBM traded down $2.95 on Thursday, reaching $287.19. 3,484,681 shares of the company's stock were exchanged, compared to its average volume of 4,236,335. 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 firm has a market cap of $266.91 billion, a price-to-earnings ratio of 49.43, a P/E/G ratio of 6.09 and a beta of 0.69. International Business Machines Corporation has a 52 week low of $176.62 and a 52 week high of $296.16. The stock has a fifty day simple moving average of $271.47 and a 200-day simple moving average of $251.07.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same period last year, the business earned $1.68 earnings per share. International Business Machines's revenue was up .5% compared to the same quarter last year. As a group, sell-side analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders 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 dividend yield of 2.34%. International Business Machines's dividend payout ratio (DPR) is 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.