Legacy Financial Strategies LLC Acquires 75 Shares of International Business Machines Co. (NYSE:IBM)

Legacy Financial Strategies LLC increased its position in International Business Machines Co. (NYSE:IBM) by 8.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 999 shares of the technology company’s stock after acquiring an additional 75 shares during the quarter. Legacy Financial Strategies LLC’s holdings in International Business Machines were worth $249,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of IBM. Compass Financial Services Inc bought a new position in International Business Machines in the 4th quarter worth $26,000. Vision Financial Markets LLC bought a new position in International Business Machines in the 4th quarter worth $31,000. Rialto Wealth Management LLC bought a new position in shares of International Business Machines during the 4th quarter worth about $35,000. Tacita Capital Inc increased its holdings in shares of International Business Machines by 174.3% during the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock worth $42,000 after purchasing an additional 122 shares during the period. Finally, Measured Risk Portfolios Inc. bought a new position in shares of International Business Machines during the 4th quarter worth about $43,000. Institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Citigroup restated an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the stock a “hold” rating in a report on Thursday, April 24th. Finally, BMO Capital Markets restated a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $249.06.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.18% of the company’s stock.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $258.88 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The firm’s 50-day simple moving average is $246.37 and its 200-day simple moving average is $239.81. International Business Machines Co. has a twelve month low of $163.53 and a twelve month high of $269.28. The firm has a market cap of $240.60 billion, a P/E ratio of 40.39, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating 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 company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.68 earnings per share. As a group, research analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be given a $1.68 dividend. 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 2.60%. International Business Machines’s payout ratio is 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.