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Wilkins Investment Counsel Inc. Buys 1,234 Shares of International Business Machines Corporation (NYSE:IBM)

International Business Machines logo with Computer and Technology background

Key Points

  • Wilkins Investment Counsel Inc. increased its stake in International Business Machines (IBM) by 1.2%, acquiring an additional 1,234 shares, which now represents 3.6% of its portfolio valued at approximately $24.93 million.
  • IBM recently reported quarterly earnings of $2.80 per share, exceeding analyst estimates, with a revenue of $16.98 billion, a 7.7% increase year-over-year.
  • The company has declared a quarterly dividend of $1.68 per share, reflecting an annualized yield of 2.59%, marking an increase from the previous quarter's dividend.
  • Five stocks we like better than International Business Machines.
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Wilkins Investment Counsel Inc. grew its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 1.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,262 shares of the technology company's stock after buying an additional 1,234 shares during the quarter. International Business Machines comprises 3.6% of Wilkins Investment Counsel Inc.'s investment portfolio, making the stock its 3rd biggest holding. Wilkins Investment Counsel Inc.'s holdings in International Business Machines were worth $24,931,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Christopher J. Hasenberg Inc purchased a new stake in International Business Machines during the first quarter worth approximately $27,000. Measured Risk Portfolios Inc. bought a new position in International Business Machines during the 4th quarter worth approximately $43,000. Park Square Financial Group LLC bought a new position in International Business Machines during the 4th quarter worth approximately $43,000. Mascagni Wealth Management Inc. acquired a new stake in shares of International Business Machines during the 4th quarter worth approximately $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of International Business Machines during the 1st quarter worth approximately $45,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of NYSE:IBM traded down $0.81 during trading on Friday, reaching $259.70. 7,751,998 shares of the stock were exchanged, compared to its average volume of 4,403,863. 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 cap of $241.36 billion, a PE ratio of 42.16, a PEG ratio of 5.52 and a beta of 0.69. The stock has a 50-day moving average price of $277.69 and a 200-day moving average price of $255.81. The company has a current ratio of 0.91, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. The business had revenue of $16.98 billion for the quarter, compared to analysts' expectations of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $2.43 earnings per share. Research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.59%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is currently 109.09%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on IBM shares. Wedbush raised their target price on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. UBS Group raised their target price on International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research report on Thursday. JPMorgan Chase & Co. raised their target price on International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday. Bank of America lowered their target price on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Royal Bank Of Canada raised their target price 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $268.75.

View Our Latest Stock Report on IBM

International Business Machines Profile

(Free Report)

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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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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