International Business Machines Co. (NYSE:IBM) Shares Bought by Arkfeld Wealth Strategies L.L.C.

Arkfeld Wealth Strategies L.L.C. raised its holdings in International Business Machines Co. (NYSE:IBM) by 27.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,002 shares of the technology company’s stock after acquiring an additional 1,303 shares during the period. Arkfeld Wealth Strategies L.L.C.’s holdings in International Business Machines were worth $1,117,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. First Bancorp Inc ME increased its holdings in shares of International Business Machines by 22.9% during the 1st quarter. First Bancorp Inc ME now owns 3,811 shares of the technology company’s stock worth $728,000 after buying an additional 709 shares during the last quarter. Schoolcraft Capital LLC acquired a new stake in shares of International Business Machines during the 1st quarter worth approximately $217,000. Hoxton Planning & Management LLC increased its holdings in shares of International Business Machines by 1.6% during the 1st quarter. Hoxton Planning & Management LLC now owns 4,804 shares of the technology company’s stock worth $917,000 after buying an additional 75 shares during the last quarter. New England Professional Planning Group Inc. acquired a new stake in shares of International Business Machines during the 1st quarter worth approximately $216,000. Finally, Beech Hill Advisors Inc. increased its holdings in shares of International Business Machines by 1.4% during the 1st quarter. Beech Hill Advisors Inc. now owns 16,746 shares of the technology company’s stock worth $3,198,000 after buying an additional 230 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Down 0.4 %

NYSE:IBM traded down $0.73 during midday trading on Wednesday, hitting $171.87. 2,692,004 shares of the company were exchanged, compared to its average volume of 4,582,543. The company has a fifty day simple moving average of $170.56 and a 200 day simple moving average of $176.40. International Business Machines Co. has a fifty-two week low of $130.83 and a fifty-two week high of $199.18. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The company has a market capitalization of $157.88 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 4.26 and a beta of 0.72.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. During the same period last year, the business earned $1.36 EPS. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities analysts anticipate that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were paid a $1.67 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a yield of 3.89%. International Business Machines’s payout ratio is currently 75.65%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on IBM shares. The Goldman Sachs Group started coverage on shares of International Business Machines in a report on Monday. They set a “buy” rating and a $200.00 price target for the company. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Wedbush lifted their target price on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. BNP Paribas started coverage on shares of International Business Machines in a report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 target price for the company. Finally, Morgan Stanley dropped their target price on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $182.53.

International Business Machines Profile

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.