BayBridge Capital Group LLC Buys Shares of 5,130 International Business Machines Co. (NYSE:IBM)

BayBridge Capital Group LLC bought a new stake in shares of International Business Machines Co. (NYSE:IBM) in the 1st quarter, Holdings Channel reports. The firm bought 5,130 shares of the technology company’s stock, valued at approximately $1,276,000.

Several other large investors have also modified their holdings of IBM. Vision Financial Markets LLC purchased a new stake in shares of International Business Machines in the fourth quarter valued at approximately $31,000. Rialto Wealth Management LLC bought a new stake in shares of International Business Machines in the 4th quarter valued at about $35,000. Tacita Capital Inc raised its holdings in shares of International Business Machines by 174.3% in the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock valued at $42,000 after purchasing an additional 122 shares in the last quarter. Measured Risk Portfolios Inc. bought a new stake in shares of International Business Machines in the 4th quarter valued at about $43,000. Finally, Park Square Financial Group LLC bought a new stake in shares of International Business Machines in the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 1.5%

Shares of International Business Machines stock opened at $276.84 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 12-month low of $167.50 and a 12-month high of $283.06. The firm has a market capitalization of $257.29 billion, a price-to-earnings ratio of 43.19, a PEG ratio of 5.81 and a beta of 0.66. The firm’s 50 day simple moving average is $252.60 and its two-hundred day simple moving average is $243.78.

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

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a dividend of $1.68 per share. This is an increase 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 2.43%. International Business Machines’s dividend payout ratio is 115.66%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wedbush restated an “outperform” rating and issued a $300.00 price target on shares of International Business Machines in a report on Wednesday, May 7th. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. UBS Group reiterated a “sell” rating and set a $170.00 price objective (up previously from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Morgan Stanley reduced their price objective 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. Finally, Wall Street Zen lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $250.31.

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.