PFG Investments LLC Purchases 23,056 Shares of International Business Machines Co. (NYSE:IBM)

PFG Investments LLC increased its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 109.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,100 shares of the technology company's stock after acquiring an additional 23,056 shares during the period. PFG Investments LLC's holdings in International Business Machines were worth $8,421,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IBM. Naples Money Management LLC bought a new stake in International Business Machines during the 4th quarter worth $28,000. Creekmur Asset Management LLC bought a new stake in shares of International Business Machines in the 4th quarter valued at about $29,000. Briaud Financial Planning Inc bought a new stake in shares of International Business Machines in the 3rd quarter valued at about $31,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of International Business Machines in the 4th quarter valued at about $31,000. Finally, Stone House Investment Management LLC boosted its position in shares of International Business Machines by 971.4% during the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company's stock valued at $32,000 after purchasing an additional 204 shares in the last quarter. Institutional investors own 58.96% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on IBM shares. Evercore raised International Business Machines from an "in-line" rating to an "outperform" rating and upped their price target for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. JPMorgan Chase & Co. dropped their price target on International Business Machines from $190.00 to $185.00 and set a "neutral" rating on the stock in a research note on Thursday. Evercore ISI raised International Business Machines from an "in-line" rating to an "outperform" rating and upped their price target for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. Jefferies Financial Group lowered their price objective on International Business Machines from $215.00 to $210.00 and set a "hold" rating for the company in a research note on Tuesday. Finally, Morgan Stanley lowered their price objective on International Business Machines from $186.00 to $179.00 and set an "equal weight" rating for the company in a research note on Friday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $184.08.

International Business Machines Price Performance

NYSE IBM traded down $1.78 during trading hours on Friday, reaching $167.13. 8,983,796 shares of the stock traded hands, compared to its average volume of 3,906,041. The stock has a 50 day simple moving average of $187.60 and a two-hundred day simple moving average of $170.34. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $199.18. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 0.93. The company has a market cap of $153.21 billion, a price-to-earnings ratio of 18.93, a price-to-earnings-growth ratio of 3.33 and a beta of 0.70.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.68 earnings per share for the quarter, beating analysts' consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter last year, the business posted $1.36 earnings per share. The company's revenue for the quarter was up 1.5% on a year-over-year basis. On average, analysts predict that International Business Machines Co. will post 9.99 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were issued a $1.66 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.64 annualized dividend and a dividend yield of 3.97%. International Business Machines's dividend payout ratio is currently 75.20%.

About International Business Machines

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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