International Business Machines Corporation (NYSE:IBM) Shares Acquired by Retirement Planning Group LLC NY

by · The Cerbat Gem

Retirement Planning Group LLC NY lifted its position in International Business Machines Corporation (NYSE:IBM – Free Report) by 9.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,131 shares of the technology company’s stock after purchasing an additional 96 shares during the quarter. Retirement Planning Group LLC NY’s holdings in International Business Machines were worth $281,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. JBR Co Financial Management Inc increased its stake in International Business Machines by 0.6% in the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock valued at $1,405,000 after purchasing an additional 40 shares during the period. Wealth Dimensions Group Ltd. grew its holdings in shares of International Business Machines by 1.0% during the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock worth $873,000 after buying an additional 40 shares during the last quarter. Pallas Capital Advisors LLC increased its position in International Business Machines by 0.9% in the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company’s stock valued at $1,195,000 after acquiring an additional 42 shares during the period. Schechter Investment Advisors LLC increased its position in International Business Machines by 0.7% in the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock valued at $1,396,000 after acquiring an additional 43 shares during the period. Finally, Titleist Asset Management LLC raised its stake in International Business Machines by 3.1% during the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company’s stock valued at $315,000 after acquiring an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $280.67 on Friday. The business has a 50-day moving average of $257.71 and a two-hundred day moving average of $245.55. The firm has a market capitalization of $260.85 billion, a PE ratio of 48.31, a P/E/G ratio of 5.95 and a beta of 0.66. International Business Machines Corporation has a 12 month low of $170.41 and a 12 month high of $286.91. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97.

International Business Machines (NYSE:IBM – Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.18. The company had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $1.68 earnings per share. As a group, research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.39%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is currently 115.66%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. BMO Capital Markets reiterated a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. UBS Group reaffirmed a “sell” rating and set a $170.00 price target (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Wedbush boosted their price target on shares of International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Finally, Royal Bank Of Canada lifted their price objective on International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $253.75.

View Our Latest Stock Report on International Business Machines

About International Business Machines

(Free Report)

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.

See Also

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