Faithward Advisors LLC Acquires 14,034 Shares of International Business Machines Corporation $IBM

Faithward Advisors LLC lifted its holdings in International Business Machines Corporation (NYSE:IBM) by 634.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,247 shares of the technology company’s stock after acquiring an additional 14,034 shares during the period. Faithward Advisors LLC’s holdings in International Business Machines were worth $4,813,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Family CFO Inc bought a new position in shares of International Business Machines in the 4th quarter valued at about $25,000. Basepoint Wealth LLC bought a new position in shares of International Business Machines in the 4th quarter valued at about $25,000. Joseph Group Capital Management bought a new position in shares of International Business Machines in the 4th quarter valued at about $28,000. Cornerstone Financial Management LLC bought a new position in shares of International Business Machines in the 4th quarter valued at about $28,000. Finally, SWAN Capital LLC bought a new position in shares of International Business Machines in the 3rd quarter valued at about $28,000. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IBM. Barclays began coverage on shares of International Business Machines in a report on Monday, June 1st. They issued an “overweight” rating and a $350.00 price target for the company. BMO Capital Markets lowered their price target on shares of International Business Machines from $290.00 to $270.00 and set a “market perform” rating for the company in a report on Thursday, April 23rd. Wall Street Zen downgraded shares of International Business Machines from a “hold” rating to a “sell” rating in a report on Saturday. Stifel Nicolaus set a $290.00 price target on shares of International Business Machines in a report on Friday, May 22nd. Finally, Citigroup increased their price target on shares of International Business Machines from $285.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $304.17.

International Business Machines Stock Down 1.5%

Shares of NYSE IBM opened at $268.19 on Tuesday. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76. The company has a market cap of $252.07 billion, a P/E ratio of 23.71, a PEG ratio of 2.82 and a beta of 0.66. International Business Machines Corporation has a 1 year low of $212.34 and a 1 year high of $332.46. The firm has a 50-day simple moving average of $250.42 and a two-hundred day simple moving average of $269.84.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.10. The business had revenue of $15.92 billion during the quarter, compared to the consensus estimate of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.60 earnings per share. Research analysts anticipate that International Business Machines Corporation will post 12.38 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were issued a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, May 8th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. International Business Machines’s dividend payout ratio (DPR) is 59.77%.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.