Horizon Wealth Management LLC Purchases 967 Shares of International Business Machines Co. (NYSE:IBM)

Horizon Wealth Management LLC lifted its position in International Business Machines Co. (NYSE:IBM) by 55.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,710 shares of the technology company’s stock after purchasing an additional 967 shares during the quarter. Horizon Wealth Management LLC’s holdings in International Business Machines were worth $518,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in IBM. Bank of Nova Scotia lifted its position 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 buying an additional 10,585 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in International Business Machines during the 3rd quarter valued at about $801,000. Caisse DE Depot ET Placement DU Quebec lifted its position in International Business Machines by 33.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 550,928 shares of the technology company’s stock valued at $77,295,000 after purchasing an additional 138,680 shares during the period. Waverly Advisors LLC lifted its position in 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 purchasing an additional 6,397 shares during the period. Finally, Logan Capital Management Inc. lifted its position in International Business Machines by 0.7% during the 3rd quarter. Logan Capital Management Inc. now owns 135,307 shares of the technology company’s stock valued at $18,984,000 after purchasing an additional 911 shares during the period. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on IBM shares. UBS Group upped their target price on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research report on Monday, April 22nd. BMO Capital Markets lowered their price target on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research note on Thursday, April 25th. Sanford C. Bernstein raised their price target on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Finally, BNP Paribas began coverage on shares of International Business Machines in a research note on Thursday, May 2nd. They set an “underperform” rating and a $145.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus price target of $182.53.

International Business Machines Stock Up 1.6 %

Shares of NYSE IBM traded up $2.69 during midday trading on Monday, hitting $175.64. 1,707,901 shares of the stock traded hands, compared to its average volume of 4,543,743. The company has a market cap of $161.34 billion, a PE ratio of 19.77, a P/E/G ratio of 4.27 and a beta of 0.71. International Business Machines Co. has a one year low of $131.55 and a one year high of $199.18. The business has a 50 day moving average price of $169.95 and a two-hundred day moving average price of $176.57. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter in the prior year, the company posted $1.36 earnings per share. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were issued a dividend of $1.67 per share. The ex-dividend date was Thursday, May 9th. This represents a $6.68 annualized dividend and a yield of 3.80%. 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%.

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.