Moran Wealth Management LLC Acquires 550 Shares of International Business Machines Corporation (NYSE:IBM)

Moran Wealth Management LLC boosted its holdings in International Business Machines Corporation (NYSE:IBM) by 2.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,501 shares of the technology company’s stock after purchasing an additional 550 shares during the quarter. Moran Wealth Management LLC’s holdings in International Business Machines were worth $4,849,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of IBM. MinichMacGregor Wealth Management LLC bought a new stake in shares of International Business Machines in the first quarter valued at approximately $396,000. Treasurer of the State of North Carolina raised 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 valued at $108,942,000 after acquiring an additional 4,131 shares in the last quarter. Mufg Securities Americas Inc. bought a new stake in shares of International Business Machines during the 4th quarter valued at $3,000,000. Magnolia Private Wealth LLC acquired a new stake in shares of International Business Machines during the 1st quarter worth $239,000. Finally, QRG Capital Management Inc. grew its holdings in shares of International Business Machines by 7.5% during the 4th quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company’s stock worth $33,118,000 after purchasing an additional 10,467 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on IBM. Citigroup reaffirmed an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. Bank of America boosted their target price on shares of International Business Machines from $290.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, June 18th. Royal Bank Of Canada increased their price target on shares of International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. Wedbush lifted their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, June 20th. Finally, UBS Group restated a “sell” rating and set a $170.00 price objective (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $253.75.

International Business Machines Stock Performance

Shares of IBM stock opened at $291.38 on Thursday. The firm has a market capitalization of $270.81 billion, a price-to-earnings ratio of 50.15, a PEG ratio of 6.17 and a beta of 0.66. 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 business’s 50-day moving average price is $260.83 and its 200-day moving average price is $246.71. International Business Machines Corporation has a 12 month low of $170.41 and a 12 month high of $296.16.

International Business Machines (NYSE:IBM) last issued 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 net margin of 8.71% and a return on equity of 37.43%. The business had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same quarter last year, the business earned $1.68 EPS. The firm’s quarterly revenue was up .5% on a year-over-year basis. Equities research 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. Investors of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.31%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is presently 115.66%.

About International Business Machines

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.