M.E. Allison & CO. Inc. Raises Stake in International Business Machines Co. (NYSE:IBM)

M.E. Allison & CO. Inc. grew its stake in International Business Machines Co. (NYSE:IBM) by 21.1% during the 1st quarter, HoldingsChannel reports. The firm owned 5,698 shares of the technology company’s stock after buying an additional 994 shares during the quarter. International Business Machines accounts for about 1.4% of M.E. Allison & CO. Inc.’s investment portfolio, making the stock its 20th biggest holding. M.E. Allison & CO. Inc.’s holdings in International Business Machines were worth $1,417,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Mission Wealth Management LP boosted its position in International Business Machines by 11.0% in the 1st quarter. Mission Wealth Management LP now owns 17,617 shares of the technology company’s stock worth $4,381,000 after purchasing an additional 1,748 shares in the last quarter. Brown Miller Wealth Management LLC boosted its position in International Business Machines by 0.7% in the 1st quarter. Brown Miller Wealth Management LLC now owns 12,664 shares of the technology company’s stock worth $3,149,000 after purchasing an additional 86 shares in the last quarter. Rebalance LLC lifted its position in shares of International Business Machines by 135.9% during the 1st quarter. Rebalance LLC now owns 4,423 shares of the technology company’s stock valued at $1,100,000 after buying an additional 2,548 shares in the last quarter. Trust Co. of Toledo NA OH lifted its position in shares of International Business Machines by 7.7% during the 1st quarter. Trust Co. of Toledo NA OH now owns 17,853 shares of the technology company’s stock valued at $4,439,000 after buying an additional 1,275 shares in the last quarter. Finally, Morton Capital Management LLC CA lifted its position in shares of International Business Machines by 6.3% during the 1st quarter. Morton Capital Management LLC CA now owns 2,059 shares of the technology company’s stock valued at $512,000 after buying an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 1.5%

NYSE IBM opened at $276.84 on Monday. International Business Machines Co. has a 52 week low of $167.50 and a 52 week high of $283.06. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The business’s fifty day simple moving average is $252.60 and its 200-day simple moving average is $243.90. The firm has a market cap of $257.29 billion, a PE ratio of 43.19, a P/E/G ratio of 5.81 and a beta of 0.66.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The business had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same quarter in the previous year, the firm earned $1.68 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. As a group, equities analysts anticipate 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 declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.43%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is currently 115.66%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IBM. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Royal Bank of Canada increased their target price on International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Morgan Stanley decreased their target price 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. Bank of America increased their target price on International Business Machines from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Monday, June 9th. Finally, Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus 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.