Wealthstar Advisors LLC Has $809,000 Position in International Business Machines Corporation (NYSE:IBM)

Wealthstar Advisors LLC lifted its position in shares of International Business Machines Corporation (NYSE:IBM) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,254 shares of the technology company’s stock after buying an additional 97 shares during the period. Wealthstar Advisors LLC’s holdings in International Business Machines were worth $809,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vision Financial Markets LLC acquired a new position in shares of International Business Machines during the fourth quarter worth about $31,000. Rialto Wealth Management LLC acquired a new position in International Business Machines during the fourth quarter valued at approximately $35,000. Tacita Capital Inc boosted its position 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 purchasing an additional 122 shares during the last quarter. Park Square Financial Group LLC acquired a new position in International Business Machines during the fourth quarter valued at approximately $43,000. Finally, Park Place Capital Corp boosted its position in International Business Machines by 42.6% during the first quarter. Park Place Capital Corp now owns 194 shares of the technology company’s stock valued at $48,000 after purchasing an additional 58 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

NYSE:IBM opened at $289.69 on Friday. The stock has a market cap of $269.24 billion, a P/E ratio of 49.86, a PEG ratio of 6.08 and a beta of 0.66. The stock has a 50 day simple moving average of $262.93 and a 200 day simple moving average of $247.66. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a 1-year low of $173.38 and a 1-year high of $296.16.

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 firm had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same quarter last year, the company earned $1.68 EPS. The company’s revenue was up .5% on a year-over-year basis. Research analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a $1.68 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.32%. International Business Machines’s dividend payout ratio (DPR) is presently 115.66%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. KGI Securities set a $242.00 price target on International Business Machines and gave the company a “hold” rating in a research report on Thursday, April 24th. UBS Group reaffirmed a “sell” rating and issued a $170.00 price objective (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Citigroup reaffirmed an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. Royal Bank Of Canada raised their price objective on International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Finally, Bank of America raised their price objective on International Business Machines from $290.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $253.75.

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.