Csenge Advisory Group Has $3.83 Million Stock Position in International Business Machines Corporation (NYSE:IBM)

Csenge Advisory Group lifted its stake in shares of International Business Machines Corporation (NYSE:IBM) by 9.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,025 shares of the technology company’s stock after buying an additional 1,368 shares during the period. Csenge Advisory Group’s holdings in International Business Machines were worth $3,827,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Christopher J. Hasenberg Inc bought a new position in International Business Machines during the 1st quarter worth approximately $27,000. Measured Risk Portfolios Inc. bought a new stake in International Business Machines during the fourth quarter valued at $43,000. Park Square Financial Group LLC acquired a new stake in International Business Machines during the 4th quarter worth about $43,000. Mascagni Wealth Management Inc. bought a new position in shares of International Business Machines in the 4th quarter worth about $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of International Business Machines during the 1st quarter valued at about $45,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Up 1.4%

IBM opened at $286.04 on Friday. 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 business’s 50-day moving average price is $276.39 and its 200-day moving average price is $254.02. The company has a market cap of $265.85 billion, a P/E ratio of 49.23, a P/E/G ratio of 5.92 and a beta of 0.69. International Business Machines Corporation has a 12 month low of $181.81 and a 12 month high of $296.16.

International Business Machines (NYSE:IBM) last posted its earnings results 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. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The company had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. During the same period last year, the firm earned $1.68 earnings per share. International Business Machines’s quarterly revenue was up .5% on a year-over-year basis. On average, equities analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.35%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is presently 115.66%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on IBM shares. Wall Street Zen cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. UBS Group reaffirmed a “sell” rating and set a $195.00 target price (up previously from $170.00) on shares of International Business Machines in a research report on Wednesday, July 9th. BMO Capital Markets upped their price objective on shares of International Business Machines from $260.00 to $300.00 and gave the stock a “market perform” rating in a research report on Friday. The Goldman Sachs Group raised their target price on International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $266.19.

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.