International Business Machines Corporation (NYSE:IBM) Shares Bought by Berry Wealth Group LP

Berry Wealth Group LP lifted its stake in International Business Machines Corporation (NYSE:IBM) by 24.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,722 shares of the technology company’s stock after acquiring an additional 342 shares during the quarter. Berry Wealth Group LP’s holdings in International Business Machines were worth $428,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Vision Financial Markets LLC purchased a new stake in shares of International Business Machines in the 4th quarter valued at approximately $31,000. Rialto Wealth Management LLC acquired a new stake in shares of International Business Machines in the 4th quarter valued at $35,000. Tacita Capital Inc raised its holdings in shares of International Business Machines by 174.3% in the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock valued at $42,000 after purchasing an additional 122 shares in the last quarter. Measured Risk Portfolios Inc. acquired a new stake in shares of International Business Machines in the 4th quarter valued at $43,000. Finally, Park Square Financial Group LLC acquired a new stake in shares of International Business Machines in the 4th quarter valued at $43,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

International Business Machines stock opened at $289.25 on Tuesday. International Business Machines Corporation has a 1 year low of $170.41 and a 1 year high of $292.95. The firm has a 50 day moving average price of $258.71 and a 200 day moving average price of $246.07. The company has a market cap of $268.83 billion, a price-to-earnings ratio of 49.78, a PEG 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.

International Business Machines (NYSE:IBM) last released its earnings results 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 net margin of 8.71% and a return on equity of 37.43%. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the previous year, the firm earned $1.68 earnings per share. International Business Machines’s revenue was up .5% compared to the same quarter last year. Sell-side analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently announced 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 a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.32%. International Business Machines’s payout ratio is presently 115.66%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IBM. Royal Bank Of Canada raised their price objective on shares of International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Citigroup restated an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. Jefferies Financial Group restated a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Bank of America raised their price objective on shares of International Business Machines from $290.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, June 18th. Finally, Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. One 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $253.75.

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.