Fox Hill Wealth Management Purchases New Shares in International Business Machines Co. (NYSE:IBM)

Fox Hill Wealth Management bought a new position in International Business Machines Co. (NYSE:IBM) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 1,076 shares of the technology company’s stock, valued at approximately $206,000.

Several other large investors have also bought and sold shares of IBM. Vontobel Holding Ltd. boosted its stake in International Business Machines by 20.3% during the 4th quarter. Vontobel Holding Ltd. now owns 477,193 shares of the technology company’s stock valued at $78,045,000 after purchasing an additional 80,474 shares during the last quarter. Tsfg LLC raised its position in International Business Machines by 40.5% in the 4th quarter. Tsfg LLC now owns 378 shares of the technology company’s stock worth $62,000 after buying an additional 109 shares during the last quarter. Auxano Advisors LLC lifted its stake in International Business Machines by 4.8% during the 4th quarter. Auxano Advisors LLC now owns 3,398 shares of the technology company’s stock valued at $556,000 after acquiring an additional 156 shares during the period. Waverly Advisors LLC boosted its holdings in shares of International Business Machines by 48.1% during the 3rd quarter. Waverly Advisors LLC now owns 19,692 shares of the technology company’s stock valued at $2,763,000 after acquiring an additional 6,397 shares during the last quarter. Finally, West Family Investments Inc. grew its stake in shares of International Business Machines by 7.6% in the fourth quarter. West Family Investments Inc. now owns 2,736 shares of the technology company’s stock worth $447,000 after acquiring an additional 194 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Price Performance

Shares of NYSE:IBM traded up $2.10 during trading on Friday, hitting $172.95. 4,193,459 shares of the company’s stock were exchanged, compared to its average volume of 3,570,876. The business’s 50-day simple moving average is $169.95 and its 200 day simple moving average is $176.48. The company has a market cap of $158.87 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 4.27 and a beta of 0.72. International Business Machines Co. has a 52-week low of $131.55 and a 52-week high of $199.18. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. During the same period last year, the firm posted $1.36 EPS. The company’s revenue was up 1.5% on a year-over-year basis. As a group, equities analysts predict that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.86%. The ex-dividend date was Thursday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio is 75.65%.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of research analyst reports. Bank of America increased their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. The Goldman Sachs Group started coverage on International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price on the stock. BMO Capital Markets reduced their price target on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. UBS Group raised their price objective on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a report on Monday, April 22nd. Finally, BNP Paribas began 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 for the company. 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. Based on data from MarketBeat, the stock presently 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.