International Business Machines Corporation (NYSE:IBM) Shares Acquired by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC lifted its position in shares of International Business Machines Corporation (NYSE:IBM) by 2.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,544 shares of the technology company’s stock after buying an additional 295 shares during the period. Flagship Harbor Advisors LLC’s holdings in International Business Machines were worth $2,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. MinichMacGregor Wealth Management LLC acquired a new stake in International Business Machines during the first quarter worth $396,000. Treasurer of the State of North Carolina increased its position in shares of International Business Machines by 0.8% during 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 purchasing an additional 4,131 shares during the last quarter. Mufg Securities Americas Inc. acquired a new stake in shares of International Business Machines during the fourth 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 valued at $33,118,000 after acquiring an additional 10,467 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the subject of several research reports. Morgan Stanley dropped 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 report on Thursday, April 24th. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. BMO Capital Markets reaffirmed a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Bank of America lifted their price objective on International Business Machines from $290.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, June 18th. Finally, KGI Securities set a $242.00 target price on International Business Machines and gave the company a “hold” rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $253.75.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $289.25 on Tuesday. International Business Machines Corporation has a one year low of $170.41 and a one year high of $291.99. The company has a market cap of $268.83 billion, a PE ratio of 49.78, a P/E/G ratio of 5.90 and a beta of 0.66. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The business has a 50-day simple moving average of $258.71 and a 200-day simple moving average of $246.07.

International Business Machines (NYSE:IBM) last posted its quarterly 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. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The company had revenue of $14.54 billion during the quarter, compared to analysts’ expectations of $14.41 billion. During the same quarter in the previous year, the business posted $1.68 EPS. The firm’s revenue was up .5% on a year-over-year basis. On average, equities research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.32%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is presently 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.