International Business Machines Co. (NYSE:IBM) Shares Purchased by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC boosted its holdings in International Business Machines Co. (NYSE:IBM) by 9.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 4,487 shares of the technology company’s stock after buying an additional 398 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in International Business Machines were worth $1,116,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Compass Financial Services Inc acquired a new position in International Business Machines in the 4th quarter worth $26,000. Vision Financial Markets LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth about $31,000. Rialto Wealth Management LLC acquired a new position in shares of International Business Machines in the fourth quarter worth about $35,000. Tacita Capital Inc boosted its holdings in International Business Machines by 174.3% in the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock valued at $42,000 after purchasing an additional 122 shares during the last quarter. Finally, Measured Risk Portfolios Inc. acquired a new stake in International Business Machines during the 4th quarter valued at approximately $43,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Up 0.8%

Shares of International Business Machines stock opened at $268.95 on Monday. The business has a fifty day simple moving average of $248.17 and a 200-day simple moving average of $242.11. The firm has a market cap of $249.96 billion, a price-to-earnings ratio of 41.96, a price-to-earnings-growth ratio of 5.81 and a beta of 0.66. International Business Machines Co. has a fifty-two week low of $166.81 and a fifty-two week high of $270.17. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. During the same quarter in the previous year, the company posted $1.68 EPS. The business’s revenue was up .5% compared to the same quarter last year. On average, equities analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given 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 dividend yield of 2.50%. International Business Machines’s payout ratio is 115.66%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wedbush reissued an “outperform” rating and issued a $300.00 price objective on shares of International Business Machines in a report on Wednesday, May 7th. Morgan Stanley dropped their price target on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. UBS Group restated a “sell” rating and set a $170.00 price objective (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Finally, Wall Street Zen downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $249.06.

International Business Machines Company 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.