Baugh & Associates LLC Takes Position in International Business Machines Co. (NYSE:IBM)

Baugh & Associates LLC bought a new position in shares of International Business Machines Co. (NYSE:IBM) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,527 shares of the technology company’s stock, valued at approximately $292,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP lifted its holdings in shares of International Business Machines by 6.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 90,209 shares of the technology company’s stock worth $12,656,000 after purchasing an additional 5,394 shares in the last quarter. Valley National Advisers Inc. lifted its holdings in shares of International Business Machines by 16.6% in the third quarter. Valley National Advisers Inc. now owns 2,640 shares of the technology company’s stock valued at $370,000 after purchasing an additional 375 shares in the last quarter. Synovus Financial Corp raised its position in International Business Machines by 2.5% in the 3rd quarter. Synovus Financial Corp now owns 93,470 shares of the technology company’s stock valued at $13,115,000 after buying an additional 2,300 shares during the last quarter. Bank of Nova Scotia boosted its holdings in International Business Machines by 11.7% during the 3rd quarter. Bank of Nova Scotia now owns 100,825 shares of the technology company’s stock worth $14,146,000 after acquiring an additional 10,585 shares during the last quarter. Finally, Morningstar Investment Services LLC grew its stake in shares of International Business Machines by 41.3% in the 3rd quarter. Morningstar Investment Services LLC now owns 3,016 shares of the technology company’s stock worth $427,000 after acquiring an additional 882 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on IBM shares. Wedbush boosted their price objective on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. BNP Paribas assumed coverage on shares of International Business Machines in a report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 target price on the stock. JPMorgan Chase & Co. decreased their price objective on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Stifel Nicolaus restated a “buy” rating and set a $190.00 price target on shares of International Business Machines in a research report on Thursday, May 16th. Finally, Sanford C. Bernstein lifted their price target on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $182.53.

International Business Machines Trading Up 1.0 %

Shares of NYSE:IBM traded up $1.70 during trading on Friday, reaching $172.55. 1,139,736 shares of the company were exchanged, compared to its average volume of 4,541,712. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. The firm has a market capitalization of $158.50 billion, a PE ratio of 19.61, a P/E/G ratio of 4.24 and a beta of 0.72. The business’s fifty day simple moving average is $170.34 and its 200-day simple moving average is $176.37. International Business Machines Co. has a 12-month low of $131.55 and a 12-month high of $199.18.

International Business Machines (NYSE:IBM) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. International Business Machines’s revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 EPS. On average, research analysts anticipate that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were given a dividend of $1.67 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date was Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.87%. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

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.