Jaffetilchin Investment Partners LLC Has $3.89 Million Position in International Business Machines Corporation (NYSE:IBM)

Jaffetilchin Investment Partners LLC lessened its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 7.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 15,630 shares of the technology company’s stock after selling 1,262 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in International Business Machines were worth $3,886,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vision Financial Markets LLC acquired a new stake in International Business Machines in the 4th quarter worth $31,000. Rialto Wealth Management LLC acquired a new stake in International Business Machines during the fourth quarter worth about $35,000. Tacita Capital Inc increased its stake in International Business Machines by 174.3% during the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock valued at $42,000 after acquiring an additional 122 shares during the period. Park Square Financial Group LLC acquired a new position in International Business Machines in the 4th quarter valued at approximately $43,000. Finally, Park Place Capital Corp lifted its position in shares of International Business Machines by 42.6% in the 1st quarter. Park Place Capital Corp now owns 194 shares of the technology company’s stock worth $48,000 after acquiring an additional 58 shares during the period. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IBM. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Wall Street Zen lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. UBS Group reiterated a “sell” rating and set a $170.00 target price (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Morgan Stanley dropped their price target on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $253.75.

International Business Machines Stock Up 0.5%

Shares of IBM opened at $292.49 on Friday. The business’s 50 day simple moving average is $261.91 and its 200-day simple moving average is $247.14. International Business Machines Corporation has a one year low of $170.48 and a one year high of $296.16. The company has a market capitalization of $271.84 billion, a P/E ratio of 50.34, a PEG ratio of 6.11 and a beta of 0.66. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The company had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same quarter in the previous year, the firm earned $1.68 earnings per share. The business’s revenue was up .5% on a year-over-year basis. As a group, sell-side analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal 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 given a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.30%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) 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.