Lake Street Advisors Group LLC Acquires 915 Shares of International Business Machines Co. (NYSE:IBM)

Lake Street Advisors Group LLC raised its holdings in shares of International Business Machines Co. (NYSE:IBM) by 25.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,455 shares of the technology company’s stock after purchasing an additional 915 shares during the quarter. Lake Street Advisors Group LLC’s holdings in International Business Machines were worth $851,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. FPC Investment Advisory Inc. bought a new stake in shares of International Business Machines during the first quarter worth $26,000. Naples Money Management LLC purchased a new position in shares of International Business Machines during the fourth quarter valued at $28,000. ESL Trust Services LLC purchased a new position in shares of International Business Machines during the first quarter valued at $28,000. Creekmur Asset Management LLC purchased a new stake in International Business Machines in the fourth quarter worth about $29,000. Finally, Ables Iannone Moore & Associates Inc. bought a new position in International Business Machines during the 4th quarter worth about $31,000. 58.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IBM has been the subject of several research reports. Stifel Nicolaus upped their price target on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday. Wedbush upped their target price on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. BNP Paribas began coverage on shares of International Business Machines in a research report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 target price on the stock. Finally, BMO Capital Markets dropped their price target on International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $183.53.

International Business Machines Trading Up 4.3 %

NYSE IBM traded up $7.92 on Thursday, reaching $191.94. 4,215,854 shares of the company were exchanged, compared to its average volume of 4,408,069. 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 business’s fifty day moving average price is $173.83 and its 200 day moving average price is $178.81. The stock has a market capitalization of $176.32 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 4.54 and a beta of 0.71. International Business Machines Co. has a fifty-two week low of $135.87 and a fifty-two week high of $199.18.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.18 EPS. Analysts forecast that International Business Machines Co. will post 9.9 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were issued 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 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Thursday, May 9th. International Business Machines’s payout ratio is 75.65%.

About International Business Machines

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.