Intergy Private Wealth LLC Boosts Holdings in International Business Machines Co. (NYSE:IBM)

Intergy Private Wealth LLC grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,746 shares of the technology company’s stock after purchasing an additional 61 shares during the period. Intergy Private Wealth LLC’s holdings in International Business Machines were worth $1,180,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Treasurer of the State of North Carolina raised its position in shares of International Business Machines by 0.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock worth $108,942,000 after acquiring an additional 4,131 shares in the last quarter. Blue Zone Wealth Advisors LLC purchased a new stake in International Business Machines in the fourth quarter worth $242,000. Truist Financial Corp grew its stake in International Business Machines by 6.5% in the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after purchasing an additional 49,591 shares during the period. Mufg Securities Americas Inc. bought a new position in International Business Machines in the fourth quarter worth $3,000,000. Finally, QRG Capital Management Inc. lifted its position in International Business Machines by 7.5% during the fourth quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company’s stock valued at $33,118,000 after buying an additional 10,467 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. UBS Group reiterated a “sell” rating and issued a $170.00 price target (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Morgan Stanley decreased their target price on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. BMO Capital Markets reiterated a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. KGI Securities set a $242.00 price target on International Business Machines and gave the stock a “hold” rating in a research note on Thursday, April 24th. Finally, Oppenheimer started coverage on International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $249.06.

International Business Machines Trading Up 0.8%

Shares of NYSE:IBM opened at $268.95 on Friday. International Business Machines Co. has a 1 year low of $166.81 and a 1 year high of $270.17. The stock’s fifty day moving average price is $248.17 and its 200-day moving average price is $241.79. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The company has a market cap of $249.96 billion, a P/E ratio of 41.96, a PEG ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The firm had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same period in the previous year, the business posted $1.68 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. Sell-side analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be paid a dividend of $1.68 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.50%. International Business Machines’s payout ratio is currently 115.66%.

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.