First Pacific Financial Increases Stake in International Business Machines Corporation (NYSE:IBM)

First Pacific Financial boosted its stake in International Business Machines Corporation (NYSE:IBM) by 53.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 673 shares of the technology company’s stock after buying an additional 233 shares during the period. First Pacific Financial’s holdings in International Business Machines were worth $167,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of IBM. Capital World Investors boosted 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. Norges Bank bought a new stake in shares of International Business Machines during the 4th quarter valued at $1,236,176,000. GAMMA Investing LLC lifted its position in International Business Machines by 29,564.2% during the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock valued at $10,940,520,000 after acquiring an additional 4,384,958 shares during the period. Raymond James Financial Inc. purchased a new stake in International Business Machines in the fourth quarter worth about $592,746,000. Finally, Northern Trust Corp increased its stake in shares of International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after purchasing an additional 1,704,209 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IBM has been the topic of several recent research reports. Bank of America upped their price target on International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, June 18th. KGI Securities set a $242.00 target price on International Business Machines and gave the stock a “hold” rating in a research note on Thursday, April 24th. BMO Capital Markets reiterated a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Wedbush upped their target price on shares of International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, June 20th. Finally, Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $253.75.

International Business Machines Price Performance

NYSE IBM opened at $293.89 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a 12 month low of $170.41 and a 12 month high of $294.60. The stock has a market cap of $273.14 billion, a price-to-earnings ratio of 50.58, a PEG ratio of 6.07 and a beta of 0.66. The company’s 50 day moving average is $259.78 and its two-hundred day moving average is $246.40.

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, topping the consensus estimate 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 business had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the prior year, the company posted $1.68 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, research analysts anticipate 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 given a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.29%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is currently 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.