West Wealth Group LLC Makes New $279,000 Investment in International Business Machines Corporation (NYSE:IBM)

West Wealth Group LLC bought a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,112 shares of the technology company's stock, valued at approximately $279,000.

Other hedge funds have also modified their holdings of the company. MinichMacGregor Wealth Management LLC purchased a new stake in shares of International Business Machines during the first quarter valued at $396,000. Treasurer of the State of North Carolina lifted its holdings in shares of International Business Machines by 0.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock valued at $108,942,000 after purchasing an additional 4,131 shares during the last quarter. Left Brain Wealth Management LLC raised its position in International Business Machines by 1,547.8% during the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock valued at $4,392,000 after buying an additional 16,592 shares during the period. Alpha Cubed Investments LLC raised its position in International Business Machines by 47.0% during the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock valued at $1,867,000 after buying an additional 2,399 shares during the period. Finally, Magnolia Private Wealth LLC acquired a new position in International Business Machines during the first quarter valued at $239,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Royal Bank Of Canada upped their price target on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. KGI Securities set a $242.00 price target on International Business Machines and gave the company a "hold" rating in a research report on Thursday, April 24th. Bank of America dropped their price target on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research report on Thursday. Stifel Nicolaus upped their target price on International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, Melius Research raised International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, International Business Machines has a consensus rating of "Moderate Buy" and an average price target of $268.75.

International Business Machines Stock Performance

NYSE:IBM traded down $20.88 during mid-day trading on Thursday, hitting $261.13. 15,714,781 shares of the company's stock traded hands, compared to its average volume of 4,563,813. The firm has a 50 day moving average of $277.95 and a two-hundred day moving average of $255.30. International Business Machines Corporation has a 12 month low of $181.81 and a 12 month high of $296.16. The firm has a market capitalization of $242.69 billion, a price-to-earnings ratio of 44.94, a price-to-earnings-growth ratio of 6.01 and a beta of 0.69. 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 announced its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.15. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The firm had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter in the prior year, the company earned $2.43 EPS. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. On average, 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 announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a dividend of $1.68 per share. This is an increase from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.57%. International Business Machines's dividend 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.