Apollon Wealth Management LLC Raises Holdings in International Business Machines Co. (NYSE:IBM)

Apollon Wealth Management LLC increased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 0.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,288 shares of the technology company’s stock after purchasing an additional 167 shares during the quarter. Apollon Wealth Management LLC’s holdings in International Business Machines were worth $8,351,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Arden Trust Co grew its holdings in shares of International Business Machines by 2.8% during the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after acquiring an additional 54 shares in the last quarter. Calamos Wealth Management LLC increased its position in International Business Machines by 2.8% in the 4th quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock worth $328,000 after purchasing an additional 55 shares during the last quarter. CVA Family Office LLC raised its stake in shares of International Business Machines by 3.3% during the 2nd quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock worth $311,000 after purchasing an additional 57 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of International Business Machines by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after buying an additional 58 shares during the last quarter. Finally, Peddock Capital Advisors LLC grew its stake in shares of International Business Machines by 0.6% in the 2nd quarter. Peddock Capital Advisors LLC now owns 10,040 shares of the technology company’s stock valued at $1,736,000 after buying an additional 58 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

International Business Machines stock traded up $0.90 during mid-day trading on Monday, reaching $194.68. The company had a trading volume of 2,361,263 shares, compared to its average volume of 4,331,680. The company has a 50 day moving average of $181.13 and a 200-day moving average of $181.01. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $199.18. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The firm has a market cap of $178.83 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 4.24 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $2.18 earnings per share. On average, sell-side analysts expect that International Business Machines Co. will post 10.06 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.43%. The ex-dividend date is Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Analyst Ratings Changes

IBM has been the subject of a number of analyst reports. Jefferies Financial Group lifted their target price on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. BNP Paribas assumed coverage on shares of International Business Machines in a report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price objective for the company. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. The Goldman Sachs Group started coverage on International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 price target for the company. Finally, Royal Bank of Canada increased their price objective on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Three 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $184.93.

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.