WESPAC Advisors SoCal LLC Takes Position in International Business Machines Corporation (NYSE:IBM)

WESPAC Advisors SoCal LLC bought a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,162 shares of the technology company's stock, valued at approximately $1,781,000.

A number of other hedge funds have also recently modified their holdings of the business. Capital World Investors lifted its stake in International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after acquiring an additional 9,650,534 shares during the period. Norges Bank bought a new position in International Business Machines during the 4th quarter valued at about $1,236,176,000. GAMMA Investing LLC lifted its stake in International Business Machines by 29,564.2% during the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after acquiring an additional 4,384,958 shares during the period. Northern Trust Corp lifted its stake in International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after acquiring an additional 1,704,209 shares during the period. Finally, Castlekeep Investment Advisors LLC bought a new position in shares of International Business Machines in the 4th quarter worth approximately $302,564,000. Institutional investors own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

IBM has been the subject of several analyst reports. Royal Bank Of Canada increased their target price on shares of International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. The Goldman Sachs Group increased their target price 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. BMO Capital Markets increased their target price on shares of International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a report on Friday, July 18th. Stifel Nicolaus increased their price objective on shares of International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, Wedbush increased their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Friday, June 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $268.75.

International Business Machines Trading Down 0.3%

IBM traded down $0.81 during mid-day trading on Friday, hitting $259.70. 7,751,998 shares of the stock were exchanged, compared to its average volume of 4,403,863. The firm's fifty day moving average is $277.69 and its two-hundred day moving average is $255.81. International Business Machines Corporation has a 1-year low of $181.81 and a 1-year high of $296.16. The company has a current ratio of 0.91, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The company has a market cap of $241.36 billion, a PE ratio of 42.16, a PEG ratio of 5.52 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The company had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter in the prior year, the business earned $2.43 EPS. International Business Machines's revenue was up 7.7% on a year-over-year basis. Equities analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $1.68 dividend. This is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.59%. International Business Machines's dividend payout ratio (DPR) is currently 109.09%.

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.