Ring Mountain Capital LLC Grows Holdings in International Business Machines Corporation (NYSE:IBM)

Ring Mountain Capital LLC grew its stake in International Business Machines Corporation (NYSE:IBM) by 16.7% during the first quarter, Holdings Channel.com reports. The fund owned 1,119 shares of the technology company’s stock after acquiring an additional 160 shares during the period. Ring Mountain Capital LLC’s holdings in International Business Machines were worth $278,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. MinichMacGregor Wealth Management LLC acquired a new position in International Business Machines during the 1st quarter worth approximately $396,000. Treasurer of the State of North Carolina grew its holdings in International Business Machines by 0.8% during the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock worth $108,942,000 after acquiring an additional 4,131 shares in the last quarter. Left Brain Wealth Management LLC boosted its holdings in shares of International Business Machines by 1,547.8% in the 1st quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company’s stock valued at $4,392,000 after buying an additional 16,592 shares in the last quarter. Alpha Cubed Investments LLC boosted its holdings in shares of International Business Machines by 47.0% in the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company’s stock valued at $1,867,000 after buying an additional 2,399 shares in the last quarter. Finally, Mufg Securities Americas Inc. acquired a new position in shares of International Business Machines in the 4th quarter valued at $3,000,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Up 1.4%

Shares of NYSE IBM opened at $286.03 on Friday. The stock has a market cap of $265.83 billion, a price-to-earnings ratio of 49.23, a PEG ratio of 5.92 and a beta of 0.69. The business has a 50 day simple moving average of $275.65 and a 200 day simple moving average of $253.56. International Business Machines Corporation has a 52 week low of $181.81 and a 52 week high of $296.16. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.18. The business had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. International Business Machines’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company posted $1.68 earnings per share. On average, research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.35%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) is presently 115.66%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on IBM shares. Stifel Nicolaus upped their price target on shares of International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday. UBS Group restated a “sell” rating and set a $195.00 price objective (up previously from $170.00) on shares of International Business Machines in a research report on Wednesday, July 9th. The Goldman Sachs Group upped their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Bank of America increased their price target 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. Finally, BMO Capital Markets increased their price target on shares of International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $266.19.

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.