Jackson Thornton Wealth Management LLC Makes New $294,000 Investment in International Business Machines Corporation (NYSE:IBM)

Jackson Thornton Wealth Management LLC acquired a new stake in shares of International Business Machines Corporation (NYSE:IBM) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 1,232 shares of the technology company’s stock, valued at approximately $294,000.

Other hedge funds also recently made changes to their positions in the company. Vision Financial Markets LLC bought a new position in International Business Machines in the 4th quarter worth approximately $31,000. Rialto Wealth Management LLC purchased a new position in shares of International Business Machines in the fourth quarter worth $35,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of International Business Machines during the first quarter worth $45,000. Park Square Financial Group LLC purchased a new position in International Business Machines during the fourth quarter valued at $43,000. Finally, Park Place Capital Corp increased its holdings in International Business Machines by 42.6% in the 1st quarter. Park Place Capital Corp now owns 194 shares of the technology company’s stock valued at $48,000 after acquiring an additional 58 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in 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. BMO Capital Markets restated a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. KGI Securities set a $242.00 price objective on International Business Machines and gave the stock a “hold” rating in a report on Thursday, April 24th. Wedbush raised their target price 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, Bank of America raised their target price on shares of International Business Machines from $290.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $257.50.

International Business Machines Stock Up 1.4%

NYSE IBM opened at $291.66 on Friday. 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 company has a fifty day moving average of $268.36 and a two-hundred day moving average of $249.65. The firm has a market capitalization of $271.06 billion, a price-to-earnings ratio of 50.20, a PEG ratio of 6.13 and a beta of 0.69. International Business Machines Corporation has a 52 week low of $173.95 and a 52 week 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 the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. International Business Machines’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.68 earnings per share. On average, analysts predict 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 announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.30%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) is 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.