HB Wealth Management LLC Increases Position in International Business Machines Corporation $IBM

HB Wealth Management LLC lifted its stake in International Business Machines Corporation (NYSE:IBM) by 8.4% in the 1st quarter, HoldingsChannel reports. The fund owned 94,006 shares of the technology company’s stock after purchasing an additional 7,304 shares during the quarter. HB Wealth Management LLC’s holdings in International Business Machines were worth $22,786,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Basepoint Wealth LLC purchased a new position in International Business Machines in the fourth quarter valued at about $25,000. Family CFO Inc purchased a new stake in shares of International Business Machines during the fourth quarter valued at about $25,000. Joseph Group Capital Management bought a new stake in shares of International Business Machines in the 4th quarter valued at about $28,000. Cornerstone Financial Management LLC bought a new stake in shares of International Business Machines in the 4th quarter valued at about $28,000. Finally, SWAN Capital LLC purchased a new position in shares of International Business Machines in the 3rd quarter worth approximately $28,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Barclays started coverage on shares of International Business Machines in a research note on Monday, June 1st. They set an “overweight” rating and a $350.00 price objective for the company. JPMorgan Chase & Co. upgraded shares of International Business Machines from a “neutral” rating to an “overweight” rating and raised their target price for the company from $270.00 to $291.00 in a research note on Tuesday, June 23rd. Weiss Ratings downgraded International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 24th. DZ Bank upgraded International Business Machines from a “hold” rating to a “buy” rating and set a $295.00 price objective for the company in a report on Friday, April 24th. Finally, Wall Street Zen raised International Business Machines from a “sell” rating to a “hold” rating in a research report on Sunday, June 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $306.76.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $288.95 on Friday. The firm has a market capitalization of $271.58 billion, a P/E ratio of 25.55, a PEG ratio of 3.00 and a beta of 0.68. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. The company has a 50 day moving average price of $256.99 and a 200 day moving average price of $266.36. International Business Machines Corporation has a 52 week low of $212.34 and a 52 week high of $332.46.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.10. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The company had revenue of $15.92 billion for the quarter, compared to the consensus estimate of $15.60 billion. During the same quarter in the previous year, the firm earned $1.60 EPS. International Business Machines’s revenue was up 9.5% compared to the same quarter last year. Sell-side analysts expect that International Business Machines Corporation will post 12.4 EPS for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were paid a $1.69 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date was Friday, May 8th. This represents a $6.76 dividend on an annualized basis and a yield of 2.3%. International Business Machines’s dividend payout ratio (DPR) is 59.77%.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.