J.W. Cole Advisors Inc. Raises Holdings in International Business Machines Corporation (NYSE:IBM)

J.W. Cole Advisors Inc. lifted its stake in International Business Machines Corporation (NYSE:IBM) by 146.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,675 shares of the technology company’s stock after buying an additional 27,753 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in International Business Machines were worth $11,606,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Christopher J. Hasenberg Inc purchased a new position in International Business Machines during the first quarter worth approximately $27,000. Measured Risk Portfolios Inc. purchased a new position in International Business Machines during the fourth quarter worth approximately $43,000. Park Square Financial Group LLC purchased a new position in International Business Machines during the fourth quarter worth approximately $43,000. Mascagni Wealth Management Inc. purchased a new position in International Business Machines during the fourth quarter worth approximately $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in International Business Machines during the first quarter worth approximately $45,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM stock opened at $286.04 on Friday. The business has a fifty day moving average of $276.39 and a two-hundred day moving average of $254.26. 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 stock has a market cap of $265.85 billion, a price-to-earnings ratio of 49.23, a price-to-earnings-growth ratio of 6.00 and a beta of 0.69. International Business Machines Corporation has a 52-week low of $181.81 and a 52-week high of $296.16.

International Business Machines (NYSE:IBM) last posted its earnings results 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. The company had revenue of $14.54 billion during the quarter, compared to analysts’ expectations of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.68 earnings per share. As a group, 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 company also recently disclosed 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 boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.35%. International Business Machines’s payout ratio is presently 115.66%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IBM. BMO Capital Markets increased their price target on International Business Machines from $260.00 to $300.00 and gave the stock a “market perform” rating in a research report on Friday. Royal Bank Of Canada raised their target price on International Business Machines from $285.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday. Citigroup restated an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. UBS Group restated a “sell” rating and issued a $195.00 target price (up previously from $170.00) on shares of International Business Machines in a research report on Wednesday, July 9th. Finally, Bank of America raised their target price 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 investment analyst has rated the stock with a sell rating, nine have assigned 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $266.19.

International Business Machines Company 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.