Kingsview Wealth Management LLC Increases Position in International Business Machines Corporation (NYSE:IBM)

Kingsview Wealth Management LLC lifted its stake in International Business Machines Corporation (NYSE:IBM) by 102.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,295 shares of the technology company’s stock after purchasing an additional 29,017 shares during the period. Kingsview Wealth Management LLC’s holdings in International Business Machines were worth $14,247,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Frederick Financial Consultants LLC boosted its stake in shares of International Business Machines by 0.7% during the 1st quarter. Frederick Financial Consultants LLC now owns 6,422 shares of the technology company’s stock worth $1,597,000 after acquiring an additional 44 shares in the last quarter. Bailard Inc. boosted its position in International Business Machines by 63.1% during the first quarter. Bailard Inc. now owns 14,323 shares of the technology company’s stock worth $3,562,000 after purchasing an additional 5,543 shares in the last quarter. Woodward Diversified Capital LLC grew its holdings in International Business Machines by 1.4% in the first quarter. Woodward Diversified Capital LLC now owns 6,618 shares of the technology company’s stock valued at $1,646,000 after purchasing an additional 89 shares during the last quarter. Concord Wealth Partners increased its position in shares of International Business Machines by 175.5% in the first quarter. Concord Wealth Partners now owns 4,105 shares of the technology company’s stock valued at $1,021,000 after buying an additional 2,615 shares in the last quarter. Finally, Ascent Wealth Partners LLC raised its stake in shares of International Business Machines by 3.3% during the 1st quarter. Ascent Wealth Partners LLC now owns 7,445 shares of the technology company’s stock worth $1,851,000 after buying an additional 236 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on IBM shares. Stifel Nicolaus increased their price objective on shares of International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Royal Bank Of Canada upped their target price on International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Wall Street Zen downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Finally, UBS Group restated a “sell” rating and issued a $195.00 price objective (up from $170.00) on shares of International Business Machines in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $263.06.

International Business Machines Stock Performance

International Business Machines stock opened at $281.68 on Thursday. 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 Corporation has a 12 month low of $181.81 and a 12 month high of $296.16. The company has a market cap of $261.79 billion, a price-to-earnings ratio of 48.48, a price-to-earnings-growth ratio of 5.94 and a beta of 0.69. The stock’s 50-day moving average is $275.10 and its 200-day moving average is $253.14.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping 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 company had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the previous year, the firm earned $1.68 earnings per share. International Business Machines’s revenue for the quarter was up .5% on a year-over-year basis. Equities analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.39%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is currently 115.66%.

About International Business Machines

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.