Meridian Wealth Advisors LLC Has $2.39 Million Position in International Business Machines Corporation (NYSE:IBM)

Meridian Wealth Advisors LLC lifted its stake in shares of International Business Machines Corporation (NYSE:IBM) by 43.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,599 shares of the technology company’s stock after purchasing an additional 2,910 shares during the quarter. Meridian Wealth Advisors LLC’s holdings in International Business Machines were worth $2,387,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of International Business Machines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock worth $20,189,023,000 after buying an additional 1,539,888 shares during the period. Geode Capital Management LLC lifted its stake in shares of International Business Machines by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock valued at $4,589,145,000 after buying an additional 427,499 shares in the last quarter. Capital World Investors lifted its position in shares of International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. Northern Trust Corp raised its position in International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after acquiring an additional 1,704,209 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of International Business Machines by 9.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company’s stock worth $1,783,281,000 after purchasing an additional 722,582 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $286.04 on Friday. 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 stock has a market capitalization 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. The business has a 50-day moving average of $276.39 and a 200 day moving average of $254.26.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the previous year, the business earned $1.68 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, sell-side analysts forecast 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 declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors 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 annualized dividend and a dividend yield of 2.35%. International Business Machines’s payout ratio is 115.66%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IBM shares. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the stock a “hold” rating in a report on Thursday, April 24th. Royal Bank Of Canada upped their target price on shares of International Business Machines from $285.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday. Morgan Stanley lowered their price objective on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Bank of America increased their price objective 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 investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, International Business Machines currently has a consensus rating of “Moderate Buy” and an average 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.