Tsfg LLC Increases Stock Position in International Business Machines Corporation (NYSE:IBM)

by · The Markets Daily

Tsfg LLC lifted its position in shares of International Business Machines Corporation (NYSE:IBM – Free Report) by 34.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 396 shares of the technology company’s stock after purchasing an additional 102 shares during the period. Tsfg LLC’s holdings in International Business Machines were worth $98,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in IBM. Highland Capital Management LLC boosted its position in International Business Machines by 21.9% in the first quarter. Highland Capital Management LLC now owns 2,789 shares of the technology company’s stock worth $694,000 after purchasing an additional 501 shares during the last quarter. TCV Trust & Wealth Management Inc. grew its position in International Business Machines by 7.5% during the first quarter. TCV Trust & Wealth Management Inc. now owns 1,441 shares of the technology company’s stock valued at $358,000 after buying an additional 100 shares during the period. 3Chopt Investment Partners LLC purchased a new stake in International Business Machines during the first quarter worth about $711,000. Mirae Asset Global Investments Co. Ltd. raised its position in International Business Machines by 20.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,241 shares of the technology company’s stock worth $29,838,000 after acquiring an additional 20,436 shares during the period. Finally, Lafayette Investments Inc. raised its position in International Business Machines by 6.9% in the first quarter. Lafayette Investments Inc. now owns 3,852 shares of the technology company’s stock worth $958,000 after acquiring an additional 250 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Price Performance

NYSE:IBM opened at $289.69 on Friday. International Business Machines Corporation has a 52-week low of $173.38 and a 52-week high of $296.16. The stock has a fifty day moving average of $262.93 and a 200 day moving average of $247.66. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The firm has a market capitalization of $269.24 billion, a price-to-earnings ratio of 49.86, a P/E/G ratio of 6.08 and a beta of 0.66.

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 analysts’ consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the company posted $1.68 EPS. On average, research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $1.68 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.32%. International Business Machines’s dividend payout ratio is presently 115.66%.

Analysts Set New Price Targets

IBM has been the subject of several research analyst reports. Jefferies Financial Group restated a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Bank of America boosted their target price on International Business Machines from $290.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, June 18th. Wedbush increased their price target on International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, June 20th. Citigroup restated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. Finally, Royal Bank Of Canada upped their price objective 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. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $253.75.

View Our Latest Analysis on International Business Machines

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.

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