Alta Wealth Advisors LLC Takes $461,000 Position in International Business Machines Corporation (NYSE:IBM)

Alta Wealth Advisors LLC acquired a new position in shares of International Business Machines Corporation (NYSE:IBM) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,855 shares of the technology company’s stock, valued at approximately $461,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. Vision Financial Markets LLC purchased a new stake in shares of International Business Machines in the fourth quarter valued at about $31,000. Rialto Wealth Management LLC acquired a new position in International Business Machines in the 4th quarter valued at about $35,000. Tacita Capital Inc grew its stake in shares of International Business Machines by 174.3% in the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock valued at $42,000 after buying an additional 122 shares during the period. Measured Risk Portfolios Inc. acquired a new stake in shares of International Business Machines during the 4th quarter worth approximately $43,000. Finally, Park Square Financial Group LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM stock opened at $292.49 on Friday. The firm has a 50 day moving average of $261.91 and a two-hundred day moving average of $247.14. The stock has a market capitalization of $271.84 billion, a PE ratio of 50.34, a P/E/G ratio of 6.11 and a beta of 0.66. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a 52 week low of $170.48 and a 52 week high of $296.16.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $14.41 billion. During the same period last year, the business posted $1.68 earnings per share. International Business Machines’s revenue was up .5% compared to the same quarter last year. On average, research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.30%. 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%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. UBS Group reiterated a “sell” rating and issued a $170.00 price objective (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Royal Bank Of Canada upped their price target 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. Bank of America raised their price objective on International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, June 18th. Citigroup reaffirmed an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $253.75.

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.