Sowell Financial Services LLC Has $10.09 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

Sowell Financial Services LLC grew its holdings in International Business Machines Co. (NYSE:IBM) by 27.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,585 shares of the technology company’s stock after buying an additional 8,859 shares during the quarter. Sowell Financial Services LLC’s holdings in International Business Machines were worth $10,092,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Treasurer of the State of North Carolina raised its stake in shares of International Business Machines by 0.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock valued at $108,942,000 after buying an additional 4,131 shares in the last quarter. Blue Zone Wealth Advisors LLC bought a new stake in shares of International Business Machines in the 4th quarter worth about $242,000. Truist Financial Corp grew its holdings in shares of International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after purchasing an additional 49,591 shares during the last quarter. Mufg Securities Americas Inc. bought a new stake in shares of International Business Machines in the 4th quarter worth about $3,000,000. Finally, Magnolia Private Wealth LLC bought a new stake in shares of International Business Machines in the 1st quarter worth about $239,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $276.84 on Monday. The company has a market capitalization of $257.29 billion, a price-to-earnings ratio of 43.19, a P/E/G ratio of 5.81 and a beta of 0.66. The firm’s 50 day simple moving average is $252.60 and its 200 day simple moving average is $243.90. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a fifty-two week low of $167.50 and a fifty-two week high of $283.06.

International Business Machines (NYSE:IBM) last announced its 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. The firm had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the company posted $1.68 EPS. As a group, sell-side analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a dividend of $1.68 per share. 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 115.66%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IBM. Royal Bank of Canada upped their target price on shares of International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. 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. Morgan Stanley decreased their price objective on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. 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 company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.