Wealth Enhancement Advisory Services LLC Purchases 250,283 Shares of International Business Machines Corporation (NYSE:IBM)

Wealth Enhancement Advisory Services LLC raised its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 27.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,158,366 shares of the technology company's stock after buying an additional 250,283 shares during the period. International Business Machines comprises about 0.6% of Wealth Enhancement Advisory Services LLC's investment portfolio, making the stock its 29th biggest holding. Wealth Enhancement Advisory Services LLC owned approximately 0.12% of International Business Machines worth $288,039,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in IBM. Tallon Kerry Patrick purchased a new stake in International Business Machines in the fourth quarter worth $902,000. Brighton Jones LLC boosted its position in International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after acquiring an additional 2,323 shares in the last quarter. Strategic Financial Concepts LLC lifted its stake in shares of International Business Machines by 25.7% in the 4th quarter. Strategic Financial Concepts LLC now owns 3,743 shares of the technology company's stock valued at $823,000 after purchasing an additional 765 shares during the period. Empower Advisory Group LLC boosted its position in shares of International Business Machines by 13.2% during the fourth quarter. Empower Advisory Group LLC now owns 8,560 shares of the technology company's stock valued at $1,882,000 after purchasing an additional 999 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in International Business Machines by 1.4% in the fourth quarter. Venturi Wealth Management LLC now owns 7,809 shares of the technology company's stock worth $1,717,000 after purchasing an additional 108 shares in the last quarter. Institutional investors own 58.96% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wedbush reissued an "outperform" rating and set a $300.00 price objective on shares of International Business Machines in a research note on Wednesday, May 7th. BMO Capital Markets reissued a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Wall Street Zen lowered International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $252.19.

International Business Machines Trading Up 0.0%

International Business Machines stock opened at $283.15 on Thursday. The firm has a market capitalization of $263.16 billion, a price-to-earnings ratio of 48.74, a P/E/G ratio of 5.94 and a beta of 0.66. International Business Machines Corporation has a 12-month low of $170.41 and a 12-month high of $286.91. The firm has a 50 day moving average of $255.73 and a 200 day moving average of $244.81. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09.

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, beating the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The firm's quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company earned $1.68 EPS. As a group, research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a $1.68 dividend. This is a boost 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 2.37%. International Business Machines's dividend payout ratio (DPR) is presently 115.66%.

About International Business Machines

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.

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