ForthRight Wealth Management LLC Buys Shares of 851 International Business Machines Co. (NYSE:IBM)

ForthRight Wealth Management LLC acquired a new position in shares of International Business Machines Co. (NYSE:IBM) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 851 shares of the technology company’s stock, valued at approximately $212,000.

Other large investors have also recently made changes to their positions in the company. Vision Financial Markets LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth approximately $31,000. Rialto Wealth Management LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth approximately $35,000. Tacita Capital Inc increased its stake in shares of International Business Machines by 174.3% during the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock worth $42,000 after buying an additional 122 shares during the period. Park Square Financial Group LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth approximately $43,000. Finally, Measured Risk Portfolios Inc. purchased a new stake in shares of International Business Machines during the fourth quarter worth approximately $43,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on IBM shares. Bank of America upped their target price on shares of International Business Machines from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Monday. UBS Group reaffirmed a “sell” rating and issued a $170.00 price target (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Morgan Stanley lowered their price target on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $300.00 price target on shares of International Business Machines in a report on Wednesday, May 7th. One equities 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $250.31.

International Business Machines Price Performance

IBM stock opened at $281.61 on Thursday. International Business Machines Co. has a twelve month low of $167.23 and a twelve month high of $281.76. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The business has a 50 day simple moving average of $250.36 and a 200-day simple moving average of $242.96. The company has a market capitalization of $261.73 billion, a P/E ratio of 43.93, a PEG ratio of 5.81 and a beta of 0.66.

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, 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 during the quarter, compared to analysts’ expectations of $14.41 billion. During the same quarter in the prior year, the business earned $1.68 earnings per share. 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 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a $1.68 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.39%. International Business Machines’s dividend payout ratio is presently 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.