Midwest Heritage Bank FSB Makes New Investment in International Business Machines Corporation (NYSE:IBM)

Midwest Heritage Bank FSB bought a new position in shares of International Business Machines Corporation (NYSE:IBM) in the first quarter, HoldingsChannel reports. The fund bought 811 shares of the technology company’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Dimensions Group Ltd. raised its holdings in International Business Machines by 1.0% during the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock worth $873,000 after purchasing an additional 40 shares in the last quarter. Pallas Capital Advisors LLC raised its holdings in International Business Machines by 0.9% during the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company’s stock worth $1,195,000 after purchasing an additional 42 shares in the last quarter. DMC Group LLC raised its holdings in International Business Machines by 1.2% during the first quarter. DMC Group LLC now owns 3,517 shares of the technology company’s stock worth $875,000 after purchasing an additional 42 shares in the last quarter. Titleist Asset Management LLC grew its position in International Business Machines by 3.1% during the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company’s stock worth $315,000 after buying an additional 43 shares during the period. Finally, Range Financial Group LLC grew its position in International Business Machines by 0.6% during the first quarter. Range Financial Group LLC now owns 7,350 shares of the technology company’s stock worth $1,828,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 0.0%

International Business Machines stock opened at $282.04 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The firm has a 50-day moving average price of $275.65 and a two-hundred day moving average price of $253.56. The firm has a market capitalization of $262.13 billion, a price-to-earnings ratio of 48.54, a PEG ratio of 5.92 and a beta of 0.69. International Business Machines Corporation has a 52-week low of $181.81 and a 52-week high of $296.16.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the previous year, the firm earned $1.68 EPS. International Business Machines’s revenue was up .5% on a year-over-year basis. Sell-side analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a $1.68 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.38%. International Business Machines’s payout ratio is presently 115.66%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Bank of America upped their target price on shares of International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, June 18th. Morgan Stanley lowered their target price on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a “hold” rating in a research report on Thursday, April 24th. Royal Bank Of Canada upped their target price on shares of International Business Machines from $285.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Wedbush increased their price target on shares of International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, June 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $266.19.

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.