Mechanics Financial Corp Acquires 276 Shares of International Business Machines Corporation (NYSE:IBM)

Mechanics Financial Corp boosted its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 8.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,501 shares of the technology company’s stock after acquiring an additional 276 shares during the period. Mechanics Financial Corp’s holdings in International Business Machines were worth $871,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBM. Christopher J. Hasenberg Inc bought a new stake in shares of International Business Machines in the first quarter valued at about $27,000. Measured Risk Portfolios Inc. bought a new stake in shares of International Business Machines in the fourth quarter valued at about $43,000. Park Square Financial Group LLC bought a new stake in shares of International Business Machines in the fourth quarter valued at about $43,000. Mascagni Wealth Management Inc. bought a new stake in shares of International Business Machines in the fourth quarter valued at about $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of International Business Machines in the first quarter valued at about $45,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

Shares of NYSE IBM opened at $282.62 on Wednesday. The business’s 50 day moving average price is $274.53 and its two-hundred day moving average price is $252.94. The company has a market cap of $262.67 billion, a PE ratio of 48.64, a price-to-earnings-growth ratio of 5.96 and a beta of 0.69. 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 twelve month low of $181.81 and a twelve month high of $296.16.

International Business Machines (NYSE:IBM) last posted its earnings results 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 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 the consensus estimate of $14.41 billion. During the same quarter in the prior year, the business earned $1.68 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis. On average, analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a $1.68 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.38%. International Business Machines’s dividend payout ratio is presently 115.66%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wedbush upped their target price on International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, June 20th. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Melius Research upgraded International Business Machines to a “strong-buy” rating in a report on Monday, July 7th. The Goldman Sachs Group upped their target price on International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Finally, KGI Securities set a $242.00 target price on International Business Machines and gave the stock a “hold” rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $259.06.

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.