Genesee Capital Advisors LLC Purchases 337 Shares of International Business Machines Corporation (NYSE:IBM)

Genesee Capital Advisors LLC raised its stake in International Business Machines Corporation (NYSE:IBM) by 5.2% in the first quarter, Holdings Channel reports. The fund owned 6,760 shares of the technology company’s stock after purchasing an additional 337 shares during the quarter. International Business Machines accounts for approximately 0.8% of Genesee Capital Advisors LLC’s investment portfolio, making the stock its 29th largest holding. Genesee Capital Advisors LLC’s holdings in International Business Machines were worth $1,681,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of International Business Machines by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock worth $20,189,023,000 after acquiring an additional 1,539,888 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of International Business Machines by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock valued at $4,589,145,000 after buying an additional 427,499 shares during the period. Capital World Investors increased its stake in shares of 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 valued at $2,634,577,000 after buying an additional 9,650,534 shares during the period. Northern Trust Corp increased 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 valued at $2,384,275,000 after buying an additional 1,704,209 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of International Business Machines by 9.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company’s stock valued at $1,783,281,000 after buying an additional 722,582 shares during the period. Institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Morgan Stanley lowered their price objective on 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. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. KGI Securities set a $242.00 price objective on International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. BMO Capital Markets reaffirmed a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Wedbush upped their price objective on International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus price target of $253.75.

International Business Machines Stock Performance

NYSE:IBM opened at $280.67 on Friday. The company has a market capitalization of $260.85 billion, a PE ratio of 48.31, a P/E/G ratio of 5.90 and a beta of 0.66. The company has a 50 day simple moving average of $257.71 and a two-hundred day simple moving average of $245.64. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. International Business Machines Corporation has a fifty-two week low of $170.41 and a fifty-two week high of $286.91.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data 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 company had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $1.68 EPS. Research analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given 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 dividend yield of 2.39%. International Business Machines’s dividend payout ratio (DPR) is 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.