Wolff Financial Management LLC Purchases Shares of 902 International Business Machines Corporation (NYSE:IBM)

Wolff Financial Management LLC purchased a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 902 shares of the technology company's stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in International Business Machines by 18.2% in the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 14,497 shares of the technology company's stock valued at $3,559,000 after buying an additional 2,228 shares in the last quarter. Park Place Capital Corp lifted its position in shares of International Business Machines by 42.6% during the first quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock worth $48,000 after purchasing an additional 58 shares in the last quarter. Diversified Trust Co increased its holdings in shares of International Business Machines by 16.5% in the first quarter. Diversified Trust Co now owns 20,652 shares of the technology company's stock valued at $5,136,000 after purchasing an additional 2,930 shares in the last quarter. Beacon Financial Advisory LLC lifted its holdings in International Business Machines by 12.3% during the 1st quarter. Beacon Financial Advisory LLC now owns 1,570 shares of the technology company's stock worth $390,000 after buying an additional 172 shares in the last quarter. Finally, Alta Wealth Advisors LLC acquired a new position in International Business Machines during the 1st quarter worth $461,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Up 0.5%

Shares of IBM stock opened at $292.49 on Friday. The firm has a 50 day moving average price of $261.91 and a two-hundred day moving average price of $247.14. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $271.84 billion, a PE ratio of 50.34, a price-to-earnings-growth ratio of 6.11 and a beta of 0.66. International Business Machines Corporation has a 12-month low of $170.48 and a 12-month high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The business's revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the business posted $1.68 earnings per share. As a group, analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given 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 2.30%. International Business Machines's dividend payout ratio (DPR) is 115.66%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on IBM shares. UBS Group reaffirmed a "sell" rating and set a $170.00 price objective (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Finally, Wedbush increased their price target on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $253.75.

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.

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