International Business Machines Co. (NYSE:IBM) Position Increased by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. raised its position in International Business Machines Co. (NYSE:IBM) by 2.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,923 shares of the technology company’s stock after purchasing an additional 103 shares during the quarter. Institute for Wealth Management LLC.’s holdings in International Business Machines were worth $678,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Kanawha Capital Management LLC grew its position in International Business Machines by 11.7% in the second quarter. Kanawha Capital Management LLC now owns 61,319 shares of the technology company’s stock worth $10,605,000 after acquiring an additional 6,405 shares in the last quarter. RFP Financial Group LLC boosted its holdings in International Business Machines by 14.6% in the second quarter. RFP Financial Group LLC now owns 1,217 shares of the technology company’s stock worth $210,000 after purchasing an additional 155 shares in the last quarter. Waterway Wealth Management LLC raised its holdings in International Business Machines by 7.5% during the second quarter. Waterway Wealth Management LLC now owns 3,075 shares of the technology company’s stock valued at $532,000 after buying an additional 215 shares in the last quarter. Bank of Stockton lifted its position in shares of International Business Machines by 34.2% in the second quarter. Bank of Stockton now owns 4,520 shares of the technology company’s stock worth $782,000 after buying an additional 1,152 shares during the last quarter. Finally, Waypoint Wealth Partners Inc. bought a new stake in shares of International Business Machines during the 2nd quarter worth about $287,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on IBM shares. BMO Capital Markets raised their price objective on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. BNP Paribas initiated coverage on shares of International Business Machines in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price objective for the company. Stifel Nicolaus upped their price objective on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Royal Bank of Canada lifted their target price on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Jefferies Financial Group upped their price target on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $184.93.

International Business Machines Stock Performance

Shares of IBM traded up $0.14 on Friday, reaching $196.10. 2,321,961 shares of the stock traded hands, compared to its average volume of 4,278,521. The stock’s 50-day moving average price is $183.79 and its 200-day moving average price is $181.43. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The firm has a market cap of $180.14 billion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 4.24 and a beta of 0.71. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $199.18.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.27. The firm had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.18 EPS. Equities analysts forecast that International Business Machines Co. will post 10.06 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

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.