Optas LLC Purchases 92 Shares of International Business Machines Co. (NYSE:IBM)

Optas LLC lifted its holdings in International Business Machines Co. (NYSE:IBM) by 4.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,269 shares of the technology company’s stock after acquiring an additional 92 shares during the period. Optas LLC’s holdings in International Business Machines were worth $433,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of IBM. Clarity Wealth Advisors LLC boosted its stake in shares of International Business Machines by 5.7% in the first quarter. Clarity Wealth Advisors LLC now owns 1,936 shares of the technology company’s stock valued at $370,000 after buying an additional 104 shares during the period. Waterway Wealth Management LLC increased its position in shares of International Business Machines by 8.4% in the first quarter. Waterway Wealth Management LLC now owns 2,860 shares of the technology company’s stock worth $546,000 after purchasing an additional 222 shares during the period. Trilogy Capital Inc. acquired a new position in International Business Machines in the first quarter valued at about $434,000. Red Door Wealth Management LLC lifted its position in International Business Machines by 98.5% during the first quarter. Red Door Wealth Management LLC now owns 4,412 shares of the technology company’s stock worth $843,000 after purchasing an additional 2,189 shares during the period. Finally, Cornerstone Wealth Group LLC grew its stake in International Business Machines by 97.9% during the first quarter. Cornerstone Wealth Group LLC now owns 3,431 shares of the technology company’s stock worth $655,000 after buying an additional 1,697 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

IBM has been the subject of several analyst reports. The Goldman Sachs Group started coverage on shares of International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price for the company. JPMorgan Chase & Co. cut their target price on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Morgan Stanley decreased their price target on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Wedbush upped their price objective on International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Finally, BMO Capital Markets decreased their target price on International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research report on Thursday, April 25th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $182.53.

International Business Machines Trading Up 1.2 %

Shares of International Business Machines stock traded up $2.10 during trading on Friday, hitting $172.95. The company’s stock had a trading volume of 4,193,459 shares, compared to its average volume of 3,570,876. The stock has a market cap of $158.87 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 4.27 and a beta of 0.72. 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 Co. has a 52 week low of $131.55 and a 52 week high of $199.18. The stock has a 50-day moving average price of $169.95 and a two-hundred day moving average price of $176.57.

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

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were paid a $1.67 dividend. 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 dividend yield of 3.86%. The ex-dividend date of this dividend was Thursday, May 9th. International Business Machines’s dividend payout ratio is currently 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.