West Wealth Group LLC Buys New Shares in International Business Machines Corporation (NYSE:IBM)

West Wealth Group LLC bought a new position 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 (SEC). The firm bought 1,112 shares of the technology company's stock, valued at approximately $279,000.

A number of other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of International Business Machines by 12.4% in 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 during the period. Proficio Capital Partners LLC raised its stake in shares of International Business Machines by 81.5% in the 4th quarter. Proficio Capital Partners LLC now owns 2,686 shares of the technology company's stock valued at $591,000 after acquiring an additional 1,206 shares during the period. American Century Companies Inc. raised its stake in shares of International Business Machines by 9.4% in the 4th quarter. American Century Companies Inc. now owns 485,334 shares of the technology company's stock valued at $106,691,000 after acquiring an additional 41,683 shares during the period. Knights of Columbus Asset Advisors LLC purchased a new position in shares of International Business Machines in the 4th quarter valued at $2,386,000. Finally, Mosley Wealth Management raised its stake in shares of International Business Machines by 9.0% in the 4th quarter. Mosley Wealth Management now owns 2,197 shares of the technology company's stock valued at $502,000 after acquiring an additional 182 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on IBM. Wedbush lifted their price target 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. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the stock a "hold" rating in a research note on Thursday, April 24th. Stifel Nicolaus lifted their price target on shares of International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, UBS Group reaffirmed a "sell" rating and set a $195.00 price target (up previously from $170.00) on shares of International Business Machines in a research note on Wednesday, July 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $266.19.

International Business Machines Price Performance

NYSE:IBM traded down $2.67 during mid-day trading on Tuesday, reaching $282.05. 4,822,966 shares of the stock were exchanged, compared to its average volume of 4,229,746. The business has a fifty day moving average price of $276.39 and a 200 day moving average price of $254.50. The firm has a market capitalization of $262.13 billion, a PE ratio of 48.54, a PEG ratio of 6.00 and a beta of 0.69. 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 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 released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same period last year, the firm posted $1.68 earnings per share. The firm's quarterly revenue was up .5% compared to the same quarter last year. Research 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. Stockholders of record on Friday, May 9th were paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.38%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is presently 115.66%.

International Business Machines Company 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.