International Business Machines Corporation (NYSE:IBM) Stake Boosted by Clarity Wealth Advisors LLC

Clarity Wealth Advisors LLC increased its stake in International Business Machines Corporation (NYSE:IBM) by 10.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,101 shares of the technology company’s stock after purchasing an additional 200 shares during the quarter. Clarity Wealth Advisors LLC’s holdings in International Business Machines were worth $522,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Christopher J. Hasenberg Inc purchased a new position in International Business Machines during the 1st quarter valued at about $27,000. Measured Risk Portfolios Inc. acquired a new stake in shares of International Business Machines during the 4th quarter valued at about $43,000. Park Square Financial Group LLC acquired a new stake in shares of International Business Machines during the 4th quarter valued at about $43,000. Mascagni Wealth Management Inc. acquired a new stake in shares of International Business Machines during the 4th quarter valued at about $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of International Business Machines during the 1st quarter valued at about $45,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

IBM opened at $287.19 on Friday. The stock has a market cap of $266.91 billion, a PE ratio of 49.43, a P/E/G ratio of 6.09 and a beta of 0.69. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a 1 year low of $176.62 and a 1 year high of $296.16. The stock’s 50 day simple moving average is $272.42 and its 200-day simple moving average is $251.52.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. During the same period in the prior year, the business posted $1.68 earnings per share. The business’s revenue was up .5% compared to the same quarter last year. Sell-side analysts forecast 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. Shareholders of record on Friday, May 9th were given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.34%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is 115.66%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on IBM shares. Melius Research upgraded International Business Machines to a “strong-buy” rating in a report on Monday. Wall Street Zen lowered International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. KGI Securities set a $242.00 target price on International Business Machines and gave the stock a “hold” rating in a report on Thursday, April 24th. BMO Capital Markets restated a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group boosted their target price on International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, International Business Machines currently has an average rating of “Moderate Buy” and a consensus target price of $259.06.

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.