Sequoia Financial Advisors LLC Acquires 5,693 Shares of International Business Machines Corporation (NYSE:IBM)

Sequoia Financial Advisors LLC boosted its holdings in International Business Machines Corporation (NYSE:IBM) by 3.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 179,625 shares of the technology company’s stock after buying an additional 5,693 shares during the period. Sequoia Financial Advisors LLC’s holdings in International Business Machines were worth $44,666,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after purchasing an additional 2,323 shares in the last quarter. FourThought Financial Partners LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth approximately $610,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth approximately $67,000. Lake Street Advisors Group LLC grew its holdings in shares of International Business Machines by 7.2% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,704 shares of the technology company’s stock worth $1,034,000 after purchasing an additional 317 shares in the last quarter. Finally, National Pension Service grew its holdings in shares of International Business Machines by 7.4% during the 4th quarter. National Pension Service now owns 2,129,145 shares of the technology company’s stock worth $468,050,000 after purchasing an additional 145,931 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Citigroup reissued an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. Bank of America boosted their price target on International Business Machines from $290.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, June 18th. KGI Securities set a $242.00 price target on International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. UBS Group reaffirmed a “sell” rating and issued a $170.00 price target (up previously from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Wall Street Zen lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $253.75.

International Business Machines Trading Down 0.8%

Shares of IBM opened at $291.38 on Thursday. The stock has a fifty day moving average price of $260.83 and a two-hundred day moving average price of $246.71. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. International Business Machines Corporation has a 52-week low of $170.41 and a 52-week high of $296.16. The company has a market cap of $270.81 billion, a price-to-earnings ratio of 50.15, a PEG ratio of 6.17 and a beta of 0.66.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data 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 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 the consensus estimate of $14.41 billion. During the same quarter in the previous year, the company posted $1.68 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. Analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a $1.68 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.31%. International Business Machines’s 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.