Argent Advisors Inc. Raises Stock Holdings in International Business Machines Corporation (NYSE:IBM)

by · The Cerbat Gem

Argent Advisors Inc. grew its stake in International Business Machines Corporation (NYSE:IBM – Free Report) by 6.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,410 shares of the technology company’s stock after acquiring an additional 265 shares during the quarter. Argent Advisors Inc.’s holdings in International Business Machines were worth $1,097,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in IBM. Brighton Jones LLC increased its stake in International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after purchasing an additional 2,323 shares during the last quarter. Fisher Asset Management LLC increased its stake in International Business Machines by 18.6% in the fourth quarter. Fisher Asset Management LLC now owns 18,292 shares of the technology company’s stock valued at $4,021,000 after purchasing an additional 2,872 shares during the last quarter. Capital Wealth Planning LLC increased its stake in International Business Machines by 3.9% in the fourth quarter. Capital Wealth Planning LLC now owns 2,072,893 shares of the technology company’s stock valued at $455,684,000 after purchasing an additional 78,198 shares during the last quarter. Maia Wealth LLC increased its stake in International Business Machines by 20.8% in the fourth quarter. Maia Wealth LLC now owns 1,608 shares of the technology company’s stock valued at $360,000 after purchasing an additional 277 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in International Business Machines by 21.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 9,962 shares of the technology company’s stock valued at $2,194,000 after purchasing an additional 1,765 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IBM has been the subject of several research analyst reports. Royal Bank Of Canada upped their price target on International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. BMO Capital Markets restated a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. Finally, Wedbush increased their price target on International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, June 20th. One research 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $253.75.

Check Out Our Latest Stock Analysis on IBM

International Business Machines Stock Down 0.8%

Shares of IBM stock opened at $289.69 on Monday. International Business Machines Corporation has a 1 year low of $173.38 and a 1 year high of $296.16. The stock has a market cap of $269.24 billion, a PE ratio of 49.86, a price-to-earnings-growth ratio of 6.08 and a beta of 0.66. The business’s fifty day moving average is $262.93 and its 200-day moving average is $247.77. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01.

International Business Machines (NYSE:IBM – Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. During the same period last year, the firm earned $1.68 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. Equities analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a dividend of $1.68 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.32%. International Business Machines’s dividend payout ratio (DPR) is 115.66%.

International Business Machines Company Profile

(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.

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