Twin Peaks Wealth Advisors LLC Purchases New Position in International Business Machines Co. (NYSE:IBM)

Twin Peaks Wealth Advisors LLC purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 946 shares of the technology company’s stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors also recently modified their holdings of IBM. Capital World Investors grew its holdings in International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after purchasing an additional 9,650,534 shares during the period. Norges Bank purchased a new stake in International Business Machines in the fourth quarter worth about $1,236,176,000. GAMMA Investing LLC grew its holdings in International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock worth $10,940,520,000 after purchasing an additional 4,384,958 shares during the period. Raymond James Financial Inc. bought a new position in shares of International Business Machines in the fourth quarter worth approximately $592,746,000. Finally, Northern Trust Corp lifted its stake in shares of International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after buying an additional 1,704,209 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%

IBM 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 1-year low of $167.23 and a 1-year high of $283.06. The company has a market capitalization of $257.29 billion, a PE 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 $243.67.

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

International Business Machines Increases Dividend

The firm also recently declared 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 an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.43%. International Business Machines’s dividend payout ratio (DPR) is presently 115.66%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on IBM shares. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a “hold” rating in a research note on Thursday, April 24th. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, 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, June 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.