Aurora Private Wealth Inc. Grows Stake in International Business Machines Corporation (NYSE:IBM)

Aurora Private Wealth Inc. grew its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 803.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,929 shares of the technology company’s stock after purchasing an additional 12,387 shares during the period. Aurora Private Wealth Inc.’s holdings in International Business Machines were worth $3,464,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vision Financial Markets LLC purchased a new stake in International Business Machines during the 4th quarter worth approximately $31,000. Rialto Wealth Management LLC purchased a new stake in shares of International Business Machines during the fourth quarter valued at $35,000. Tacita Capital Inc increased its position in shares of International Business Machines by 174.3% in the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock valued at $42,000 after acquiring an additional 122 shares during the period. Measured Risk Portfolios Inc. acquired a new stake in International Business Machines during the 4th quarter worth about $43,000. Finally, Park Square Financial Group LLC purchased a new stake in International Business Machines during the 4th quarter valued at about $43,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Up 1.6%

Shares of IBM opened at $293.89 on Wednesday. The company’s 50-day moving average price is $259.78 and its 200 day moving average price is $246.40. International Business Machines Corporation has a 12-month low of $170.41 and a 12-month high of $294.60. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. The firm has a market cap of $273.14 billion, a P/E ratio of 50.58, a price-to-earnings-growth ratio of 6.07 and a beta of 0.66.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating 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 firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter last year, the firm earned $1.68 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. On average, sell-side analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.29%. International Business Machines’s dividend payout ratio is 115.66%.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of recent research reports. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. Royal Bank Of Canada upped their price objective on shares of International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. BMO Capital Markets reissued a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Wall Street Zen lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Finally, Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from 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.