Wealthcare Capital Management LLC Makes New $210,000 Investment in International Business Machines Co. (NYSE:IBM)

Wealthcare Capital Management LLC bought a new position in shares of International Business Machines Co. (NYSE:IBM) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 845 shares of the technology company’s stock, valued at approximately $210,000.

Other institutional investors also recently bought and sold shares of the company. Treasurer of the State of North Carolina lifted its position in shares of International Business Machines by 0.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock valued at $108,942,000 after acquiring an additional 4,131 shares in the last quarter. Blue Zone Wealth Advisors LLC purchased a new stake in shares of International Business Machines in the fourth quarter valued at $242,000. Truist Financial Corp lifted its position in shares of International Business Machines by 6.5% in the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock valued at $178,296,000 after acquiring an additional 49,591 shares in the last quarter. Mufg Securities Americas Inc. purchased a new stake in shares of International Business Machines in the fourth quarter valued at $3,000,000. Finally, QRG Capital Management Inc. lifted its position in shares of International Business Machines by 7.5% in the fourth quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company’s stock valued at $33,118,000 after acquiring an additional 10,467 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $272.13 on Tuesday. The firm has a market capitalization of $252.92 billion, a PE ratio of 42.45, a P/E/G ratio of 5.81 and a beta of 0.66. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The business has a 50-day moving average of $248.62 and a two-hundred day moving average of $242.46. International Business Machines Co. has a 12 month low of $166.81 and a 12 month high of $273.66.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The company had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter in the prior year, the business earned $1.68 earnings per share. The company’s revenue was up .5% compared to the same quarter last year. As a group, research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a $1.68 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.47%. International Business Machines’s dividend payout ratio is presently 115.66%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on IBM shares. Oppenheimer started coverage on International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective on the stock. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. UBS Group reiterated a “sell” rating and issued a $170.00 target price (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Wedbush reiterated an “outperform” rating and issued a $300.00 target price on shares of International Business Machines in a research note on Wednesday, May 7th. Finally, Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus price target of $250.31.

International Business Machines Company 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.