International Business Machines Corporation (NYSE:IBM) Shares Bought by 44 Wealth Management LLC

by · The Cerbat Gem

44 Wealth Management LLC lifted its holdings in shares of International Business Machines Corporation (NYSE:IBM – Free Report) by 15.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 5,869 shares of the technology company’s stock after purchasing an additional 772 shares during the quarter. 44 Wealth Management LLC’s holdings in International Business Machines were worth $1,459,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Calamos Wealth Management LLC raised its position in shares of International Business Machines by 97.5% during the 1st quarter. Calamos Wealth Management LLC now owns 3,949 shares of the technology company’s stock worth $982,000 after purchasing an additional 1,950 shares during the period. Conning Inc. lifted its stake in International Business Machines by 5.9% in the first quarter. Conning Inc. now owns 5,343 shares of the technology company’s stock valued at $1,329,000 after buying an additional 300 shares during the last quarter. Sterling Financial Planning Inc. boosted its holdings in shares of International Business Machines by 13.7% during the first quarter. Sterling Financial Planning Inc. now owns 2,484 shares of the technology company’s stock valued at $618,000 after acquiring an additional 300 shares during the period. Davidson Trust Co. boosted its holdings in shares of International Business Machines by 6.0% during the first quarter. Davidson Trust Co. now owns 3,162 shares of the technology company’s stock valued at $786,000 after acquiring an additional 179 shares during the period. Finally, Palisade Capital Management LP grew its position in shares of International Business Machines by 55.5% during the first quarter. Palisade Capital Management LP now owns 2,236 shares of the technology company’s stock worth $556,000 after acquiring an additional 798 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IBM. The Goldman Sachs Group lifted their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday. Wall Street Zen cut International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Wedbush lifted 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. Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $257.50.

Read Our Latest Research Report on IBM

International Business Machines Stock Up 1.4%

IBM stock opened at $291.66 on Friday. The firm has a market cap of $271.06 billion, a PE ratio of 50.20, a P/E/G ratio of 6.04 and a beta of 0.69. International Business Machines Corporation has a 12 month low of $173.95 and a 12 month high of $296.16. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. The firm has a 50 day simple moving average of $267.18 and a 200 day simple moving average of $249.22.

International Business Machines (NYSE:IBM – Get Free Report) last posted 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. The company had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The firm’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.68 earnings per share. Equities research analysts forecast 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 announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.30%. International Business Machines’s payout ratio is 115.66%.

International Business Machines 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.

Further Reading

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