Wealthfront Advisers LLC Buys 17,144 Shares of International Business Machines Corporation (NYSE:IBM)

Wealthfront Advisers LLC increased its position in International Business Machines Corporation (NYSE:IBM) by 16.3% during the 1st quarter, Holdings Channel reports. The firm owned 122,029 shares of the technology company’s stock after acquiring an additional 17,144 shares during the quarter. Wealthfront Advisers LLC’s holdings in International Business Machines were worth $30,344,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of IBM. Christopher J. Hasenberg Inc purchased a new stake in shares of International Business Machines during the 1st quarter worth $27,000. Measured Risk Portfolios Inc. acquired a new stake in International Business Machines in the fourth quarter worth about $43,000. Park Square Financial Group LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth about $43,000. Mascagni Wealth Management Inc. acquired a new position in shares of International Business Machines during the fourth quarter valued at about $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of International Business Machines during the first quarter valued at about $45,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Up 0.1%

IBM opened at $283.86 on Tuesday. The company has a fifty day moving average of $273.87 and a two-hundred day moving average of $252.73. The stock has a market capitalization of $263.82 billion, a price-to-earnings ratio of 48.86, a PEG ratio of 5.95 and a beta of 0.69. International Business Machines Corporation has a fifty-two week low of $181.81 and a fifty-two week high of $296.16. 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 (NYSE:IBM) last announced its 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 business’s quarterly revenue was up .5% on a year-over-year basis. On average, research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.37%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is 115.66%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Wall Street Zen downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. BMO Capital Markets reissued a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. UBS Group restated a “sell” rating and issued a $195.00 target price (up previously from $170.00) on shares of International Business Machines in a research note on Wednesday, July 9th. KGI Securities set a $242.00 price target on International Business Machines and gave the stock a “hold” rating in a research report on Thursday, April 24th. Finally, Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $259.06.

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.