Chicago Capital LLC Has $3.44 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

Chicago Capital LLC grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 4.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 13,817 shares of the technology company’s stock after purchasing an additional 625 shares during the period. Chicago Capital LLC’s holdings in International Business Machines were worth $3,436,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBM. Vision Financial Markets LLC bought a new position in shares of International Business Machines during the fourth quarter valued at about $31,000. Rialto Wealth Management LLC bought a new stake in International Business Machines in the 4th quarter worth approximately $35,000. Tacita Capital Inc lifted its stake 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 valued at $42,000 after buying an additional 122 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in International Business Machines in the 4th quarter worth $43,000. Finally, Measured Risk Portfolios Inc. bought a new stake in shares of International Business Machines in the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on IBM shares. Wedbush reiterated an “outperform” rating and set a $300.00 price objective on shares of International Business Machines in a research note on Wednesday, May 7th. Wall Street Zen downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Royal Bank of Canada upped their price target on shares of International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Finally, UBS Group reiterated a “sell” rating and issued a $170.00 price target (up previously from $160.00) 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 assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $250.31.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $281.66 on Tuesday. 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 $253.83 and its 200-day simple moving average is $244.28. International Business Machines Co. has a one year low of $167.50 and a one year high of $284.50. The firm has a market cap of $261.77 billion, a PE ratio of 43.94, a price-to-earnings-growth ratio of 5.81 and a beta of 0.66.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $14.41 billion. During the same quarter last year, the company posted $1.68 earnings per share. The business’s quarterly revenue was up .5% on a year-over-year basis. As a group, equities analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.39%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is presently 115.66%.

International Business Machines Company 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.