Mattern Wealth Management LLC Has $438,000 Stock Holdings in International Business Machines Corporation (NYSE:IBM)

Mattern Wealth Management LLC lifted its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 12.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,761 shares of the technology company’s stock after purchasing an additional 200 shares during the quarter. Mattern Wealth Management LLC’s holdings in International Business Machines were worth $438,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of IBM. Wealth Dimensions Group Ltd. boosted its holdings in shares of International Business Machines by 1.0% in the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock valued at $873,000 after buying an additional 40 shares during the last quarter. Pallas Capital Advisors LLC lifted its stake in International Business Machines by 0.9% in the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company’s stock valued at $1,195,000 after acquiring an additional 42 shares during the last quarter. Schechter Investment Advisors LLC grew its position in shares of International Business Machines by 0.7% in the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock valued at $1,396,000 after acquiring an additional 43 shares during the period. Titleist Asset Management LLC increased its stake in shares of International Business Machines by 3.1% during the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company’s stock worth $315,000 after purchasing an additional 43 shares during the last quarter. Finally, Range Financial Group LLC raised its holdings in shares of International Business Machines by 0.6% in the 1st quarter. Range Financial Group LLC now owns 7,350 shares of the technology company’s stock valued at $1,828,000 after purchasing an additional 43 shares during the period. Institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Citigroup reissued an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. KGI Securities set a $242.00 target price on International Business Machines and gave the stock a “hold” rating in a report on Thursday, April 24th. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Wedbush upped their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, June 20th. Finally, BMO Capital Markets restated a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, International Business Machines has an average rating of “Hold” and an average target price of $253.75.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $293.89 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The stock has a market capitalization of $273.14 billion, a price-to-earnings ratio of 50.58, a price-to-earnings-growth ratio of 6.07 and a beta of 0.66. International Business Machines Corporation has a twelve month low of $170.41 and a twelve month high of $294.60. The company has a 50-day simple moving average of $259.78 and a two-hundred day simple moving average of $246.40.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business earned $1.68 earnings per share. Analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a $1.68 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.29%. International Business Machines’s payout ratio is currently 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.