International Business Machines Co. (NYSE:IBM) Shares Purchased by Massachusetts Wealth Management

Massachusetts Wealth Management increased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 10.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,858 shares of the technology company’s stock after purchasing an additional 448 shares during the period. Massachusetts Wealth Management’s holdings in International Business Machines were worth $1,208,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Dohj LLC acquired a new stake in International Business Machines during the 1st quarter worth $225,000. MFA Wealth Services boosted its stake in International Business Machines by 2.4% during the 1st quarter. MFA Wealth Services now owns 2,465 shares of the technology company’s stock worth $613,000 after purchasing an additional 57 shares during the period. Missouri Trust & Investment Co boosted its stake in International Business Machines by 3.1% during the 1st quarter. Missouri Trust & Investment Co now owns 4,342 shares of the technology company’s stock worth $1,080,000 after purchasing an additional 130 shares during the period. Lakeridge Wealth Management LLC boosted its stake in International Business Machines by 0.4% during the 1st quarter. Lakeridge Wealth Management LLC now owns 14,212 shares of the technology company’s stock worth $3,534,000 after purchasing an additional 52 shares during the period. Finally, Dover Advisors LLC boosted its stake in International Business Machines by 39.4% during the 1st quarter. Dover Advisors LLC now owns 9,705 shares of the technology company’s stock worth $2,413,000 after purchasing an additional 2,741 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the subject of several recent analyst reports. Morgan Stanley reduced their target price on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. 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. Jefferies Financial Group restated a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Bank of America raised 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. Finally, Citigroup restated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $250.31.

International Business Machines Stock Performance

NYSE: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. The firm has a 50-day moving average price of $252.60 and a two-hundred day moving average price of $243.78. International Business Machines Co. has a twelve month low of $167.50 and a twelve month high of $283.06. The company has a market capitalization of $257.29 billion, a P/E ratio of 43.19, a price-to-earnings-growth 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 earnings per share (EPS) 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 company had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. During the same period last year, the company earned $1.68 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, research analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.43%. International Business Machines’s dividend payout ratio (DPR) is currently 115.66%.

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.