Aurora Private Wealth Inc. Grows Stake in International Business Machines Corporation (NYSE:IBM)

by · The Cerbat Gem

Aurora Private Wealth Inc. boosted its holdings in International Business Machines Corporation (NYSE:IBM – Free Report) by 803.3% in the first quarter, HoldingsChannel.com reports. The firm owned 13,929 shares of the technology company’s stock after buying an additional 12,387 shares during the quarter. Aurora Private Wealth Inc.’s holdings in International Business Machines were worth $3,464,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in IBM. Vision Financial Markets LLC purchased a new position in shares of International Business Machines in the 4th quarter valued at $31,000. Rialto Wealth Management LLC acquired a new position in International Business Machines in the fourth quarter valued at $35,000. Tacita Capital Inc grew its holdings in shares of International Business Machines by 174.3% during the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock worth $42,000 after purchasing an additional 122 shares during the last quarter. Measured Risk Portfolios Inc. acquired a new stake in shares of International Business Machines during the fourth quarter worth about $43,000. Finally, Park Square Financial Group LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth about $43,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Trading Up 1.6%

International Business Machines stock opened at $293.89 on Wednesday. International Business Machines Corporation has a 12-month low of $170.41 and a 12-month high of $294.60. The stock has a market capitalization of $273.14 billion, a PE ratio of 50.58, a price-to-earnings-growth ratio of 6.07 and a beta of 0.66. The firm has a 50 day simple moving average of $259.78 and a 200-day simple moving average of $246.40. 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 issued 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 net margin of 8.71% and a return on equity of 37.43%. The company had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the prior year, the company earned $1.68 EPS. International Business Machines’s revenue was up .5% on a year-over-year basis. As a group, equities research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal 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 given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.29%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is presently 115.66%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on IBM shares. Citigroup restated an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. BMO Capital Markets reaffirmed a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Royal Bank Of Canada raised their target price on shares of International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Wedbush upped their target price on International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, June 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $253.75.

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International Business Machines Company Profile

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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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