M3 Advisory Group LLC Takes $204,000 Position in International Business Machines Corporation (NYSE:IBM)

M3 Advisory Group LLC bought a new stake in shares of International Business Machines Corporation (NYSE:IBM) during the 1st quarter, HoldingsChannel reports. The firm bought 819 shares of the technology company’s stock, valued at approximately $204,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MinichMacGregor Wealth Management LLC acquired a new position in shares of International Business Machines during the first quarter worth $396,000. Treasurer of the State of North Carolina lifted its holdings in 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 worth $108,942,000 after buying an additional 4,131 shares in the last quarter. Mufg Securities Americas Inc. purchased a new position in International Business Machines in the 4th quarter valued at about $3,000,000. Magnolia Private Wealth LLC acquired a new stake in shares of International Business Machines during the first quarter valued at about $239,000. Finally, QRG Capital Management Inc. increased its position in shares of International Business Machines by 7.5% during the fourth quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company’s stock worth $33,118,000 after acquiring an additional 10,467 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Royal Bank Of Canada increased their price target on International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Wedbush increased their target price on International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday. Citigroup restated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. BMO Capital Markets reaffirmed a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and an average target price of $253.75.

International Business Machines Stock Down 0.9%

NYSE:IBM opened at $280.67 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. The stock has a 50 day moving average of $257.71 and a 200-day moving average of $245.71. The firm has a market capitalization of $260.85 billion, a PE ratio of 48.31, a price-to-earnings-growth ratio of 5.90 and a beta of 0.66. International Business Machines Corporation has a 52 week low of $170.41 and a 52 week high of $286.91.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The business had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same quarter in the previous year, the firm posted $1.68 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. Analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The company also recently declared 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 represents a $6.72 annualized dividend and a dividend yield of 2.39%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is currently 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.