Wynn Capital LLC Buys 105 Shares of International Business Machines Co. (NYSE:IBM)

Wynn Capital LLC lifted its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,147 shares of the technology company’s stock after acquiring an additional 105 shares during the quarter. International Business Machines makes up approximately 1.2% of Wynn Capital LLC’s holdings, making the stock its 22nd biggest position. Wynn Capital LLC’s holdings in International Business Machines were worth $2,026,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Treasurer of the State of North Carolina lifted its holdings in International Business Machines by 0.8% in 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 purchasing an additional 4,131 shares in the last quarter. Blue Zone Wealth Advisors LLC purchased a new position in International Business Machines in the 4th quarter worth approximately $242,000. Truist Financial Corp lifted its holdings in International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after purchasing an additional 49,591 shares in the last quarter. Mufg Securities Americas Inc. purchased a new position in International Business Machines in the 4th quarter worth approximately $3,000,000. Finally, QRG Capital Management Inc. lifted its holdings in International Business Machines by 7.5% in the 4th quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company’s stock worth $33,118,000 after purchasing an additional 10,467 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on IBM. Morgan Stanley lowered their price target on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Citigroup reissued an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. KGI Securities set a $242.00 price objective on International Business Machines and gave the stock a “hold” rating in a report on Thursday, April 24th. BMO Capital Markets reaffirmed a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Royal Bank of Canada upped their price objective on International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $249.06.

International Business Machines Stock Performance

NYSE:IBM opened at $268.95 on Friday. The stock’s fifty day moving average is $248.17 and its 200 day moving average is $241.98. International Business Machines Co. has a fifty-two week low of $166.81 and a fifty-two week high of $270.17. The firm has a market capitalization of $249.96 billion, a PE ratio of 41.96, a PEG ratio of 5.81 and a beta of 0.66. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The company had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same quarter in the prior year, the firm posted $1.68 EPS. International Business Machines’s quarterly revenue was up .5% compared to the same quarter last year. On average, sell-side analysts anticipate that International Business Machines Co. 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 will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.50%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is presently 115.66%.

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.