Rovin Capital UT ADV Invests $203,000 in International Business Machines Co. (NYSE:IBM)

Rovin Capital UT ADV acquired a new position in International Business Machines Co. (NYSE:IBM) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 1,064 shares of the technology company’s stock, valued at approximately $203,000.

Other institutional investors have also recently bought and sold shares of the company. Naples Money Management LLC acquired a new stake in International Business Machines during the fourth quarter worth $28,000. Creekmur Asset Management LLC acquired a new stake in shares of International Business Machines in the 4th quarter valued at $29,000. Briaud Financial Planning Inc acquired a new stake in shares of International Business Machines in the 3rd quarter valued at $31,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of International Business Machines in the 4th quarter valued at $31,000. Finally, Stone House Investment Management LLC boosted its stake in shares of International Business Machines by 971.4% in the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 204 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Down 0.7 %

Shares of IBM traded down $1.24 on Tuesday, hitting $166.19. The company’s stock had a trading volume of 6,010,206 shares, compared to its average volume of 5,023,267. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The firm’s fifty day moving average price is $186.85 and its 200-day moving average price is $170.91. International Business Machines Co. has a fifty-two week low of $120.55 and a fifty-two week high of $199.18. The firm has a market capitalization of $152.35 billion, a price-to-earnings ratio of 18.82, a P/E/G ratio of 4.08 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. During the same period in the previous year, the firm earned $1.36 EPS. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts expect that International Business Machines Co. will post 9.99 EPS for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 4.02%. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio is 75.20%.

Analysts Set New Price Targets

Several analysts have weighed in on IBM shares. UBS Group boosted their price objective on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a report on Monday, April 22nd. Stifel Nicolaus reissued a “buy” rating and set a $190.00 price objective on shares of International Business Machines in a report on Wednesday, April 17th. Sanford C. Bernstein boosted their price objective on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. Royal Bank of Canada boosted their price objective on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Morgan Stanley dropped their price objective on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a report on Friday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $184.08.

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.