Spire Wealth Management Raises Position in International Business Machines Corporation (NYSE:IBM)

Spire Wealth Management grew its position in International Business Machines Corporation (NYSE:IBM) by 2.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 12,756 shares of the technology company’s stock after purchasing an additional 263 shares during the quarter. Spire Wealth Management’s holdings in International Business Machines were worth $3,172,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Wealth Dimensions Group Ltd. grew its holdings in International Business Machines by 1.0% during the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock worth $873,000 after acquiring an additional 40 shares in the last quarter. Pallas Capital Advisors LLC grew its holdings in International Business Machines by 0.9% during the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company’s stock worth $1,195,000 after acquiring an additional 42 shares in the last quarter. Schechter Investment Advisors LLC grew its holdings in International Business Machines by 0.7% during the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock worth $1,396,000 after acquiring an additional 43 shares in the last quarter. Titleist Asset Management LLC grew its holdings in 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 acquiring an additional 43 shares in the last quarter. Finally, Range Financial Group LLC grew its holdings in International Business Machines by 0.6% during the 1st quarter. Range Financial Group LLC now owns 7,350 shares of the technology company’s stock worth $1,828,000 after acquiring an additional 43 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $291.38 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a 52 week low of $170.41 and a 52 week high of $296.16. The company has a 50 day moving average price of $260.83 and a 200 day moving average price of $246.71. The firm has a market capitalization of $270.81 billion, a P/E ratio of 50.15, a PEG ratio of 6.17 and a beta of 0.66.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating 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 business had revenue of $14.54 billion during the quarter, compared to analysts’ expectations of $14.41 billion. During the same period in the previous year, the business posted $1.68 EPS. The business’s quarterly revenue was up .5% compared to the same quarter last year. Sell-side analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.31%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is presently 115.66%.

Analyst Ratings Changes

A number of analysts have recently weighed in on IBM shares. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the company a “hold” rating in a report on Thursday, April 24th. Royal Bank Of Canada raised their price target 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. UBS Group restated a “sell” rating and issued a $170.00 price target (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Wall Street Zen cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus 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.