Western Wealth Management LLC Acquires 487 Shares of International Business Machines Corporation (NYSE:IBM)

Western Wealth Management LLC raised its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 8.0% during the first quarter, HoldingsChannel reports. The fund owned 6,584 shares of the technology company’s stock after purchasing an additional 487 shares during the quarter. Western Wealth Management LLC’s holdings in International Business Machines were worth $1,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vision Financial Markets LLC bought a new stake in International Business Machines during the 4th quarter valued at $31,000. Rialto Wealth Management LLC bought a new stake in International Business Machines during the 4th quarter valued at $35,000. Tacita Capital Inc raised its holdings in International Business Machines by 174.3% during the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock valued at $42,000 after acquiring an additional 122 shares during the period. Park Square Financial Group LLC bought a new position in shares of International Business Machines in the fourth quarter worth $43,000. Finally, Measured Risk Portfolios Inc. bought a new position in shares of International Business Machines in the fourth quarter worth $43,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE IBM opened at $292.49 on Friday. The company has a 50-day simple moving average of $261.91 and a two-hundred day simple moving average of $247.14. 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 12-month low of $170.48 and a 12-month high of $296.16. The firm has a market cap of $271.84 billion, a price-to-earnings ratio of 50.34, a PEG ratio of 6.11 and a beta of 0.66.

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

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a 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 have recently weighed in on the stock. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. BMO Capital Markets reaffirmed a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Wedbush upped their price target on shares of International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, June 20th. Finally, Morgan Stanley decreased their price target on shares of 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $253.75.

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.