Broadway Wealth Solutions Inc. Increases Holdings in International Business Machines Co. (NYSE:IBM)

Broadway Wealth Solutions Inc. lifted its position in International Business Machines Co. (NYSE:IBM) by 11.0% in the 1st quarter, HoldingsChannel reports. The firm owned 2,155 shares of the technology company’s stock after purchasing an additional 213 shares during the quarter. International Business Machines makes up about 0.4% of Broadway Wealth Solutions Inc.’s portfolio, making the stock its 22nd largest position. Broadway Wealth Solutions Inc.’s holdings in International Business Machines were worth $536,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wynn Capital LLC grew its holdings in International Business Machines by 1.3% during the first quarter. Wynn Capital LLC now owns 8,147 shares of the technology company’s stock worth $2,026,000 after acquiring an additional 105 shares during the period. City Center Advisors LLC acquired a new stake in International Business Machines during the first quarter worth about $286,000. Bank of New Hampshire grew its holdings in International Business Machines by 1.8% during the first quarter. Bank of New Hampshire now owns 9,503 shares of the technology company’s stock worth $2,363,000 after acquiring an additional 166 shares during the period. Miracle Mile Advisors LLC grew its holdings in International Business Machines by 4.3% during the first quarter. Miracle Mile Advisors LLC now owns 3,889 shares of the technology company’s stock worth $967,000 after acquiring an additional 159 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC grew its holdings in International Business Machines by 9.7% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 4,487 shares of the technology company’s stock worth $1,116,000 after acquiring an additional 398 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the company. Citigroup reissued an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. UBS Group reissued a “sell” rating and issued a $170.00 price objective (up 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. Wedbush reissued an “outperform” rating and issued a $300.00 price objective on shares of International Business Machines in a report on Wednesday, May 7th. Finally, Wall Street Zen lowered International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, International Business Machines has an average rating of “Hold” and an average target price of $249.06.

International Business Machines Stock Up 0.8%

NYSE IBM opened at $268.95 on Friday. The business has a fifty day moving average price of $248.17 and a 200 day moving average price of $241.98. International Business Machines Co. has a one year low of $166.81 and a one year high of $270.17. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The company has a market cap of $249.96 billion, a P/E ratio of 41.96, a P/E/G ratio of 5.81 and a beta of 0.66.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. The company had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.68 earnings per share. Research analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.50%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is 115.66%.

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.