TRU Independence Asset Management 2 LLC Purchases Shares of 1,206 International Business Machines Corporation (NYSE:IBM)

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

Other hedge funds have also modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of International Business Machines during the 1st quarter worth approximately $45,000. Park Square Financial Group LLC purchased a new stake in International Business Machines in the 4th quarter worth approximately $43,000. Park Place Capital Corp grew its stake in International Business Machines by 42.6% in the 1st quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock worth $48,000 after acquiring an additional 58 shares during the period. Measured Risk Portfolios Inc. purchased a new stake in International Business Machines in the 4th quarter worth approximately $43,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in International Business Machines in the 4th quarter worth approximately $43,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Down 1.2%

Shares of NYSE:IBM traded down $3.57 during midday trading on Friday, hitting $283.86. 1,850,541 shares of the company's stock traded hands, compared to its average volume of 4,498,282. 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 company has a market cap of $263.82 billion, a PE ratio of 48.86, a P/E/G ratio of 6.09 and a beta of 0.69. The firm's fifty day moving average price is $272.42 and its two-hundred day moving average price is $251.52. International Business Machines Corporation has a twelve month low of $178.50 and a twelve month high of $296.16.

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 (EPS) for the quarter, topping 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 firm had revenue of $14.54 billion for the quarter, compared to analysts' expectations of $14.41 billion. During the same quarter last year, the company posted $1.68 earnings per share. International Business Machines's revenue was up .5% on a year-over-year basis. On average, equities research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced 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 2.37%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is currently 115.66%.

Analysts Set New Price Targets

Several analysts have commented on IBM shares. Wedbush lifted their target price on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Royal Bank Of Canada lifted their target price on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. The Goldman Sachs Group lifted their target price on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Finally, BMO Capital Markets reissued a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, International Business Machines currently has an average rating of "Moderate Buy" and an average target price 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.