International Business Machines Corporation (NYSE:IBM) Stake Raised by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC lifted its stake in shares of International Business Machines Corporation (NYSE:IBM) by 8.1% during the first quarter, Holdings Channel.com reports. The fund owned 4,060 shares of the technology company’s stock after purchasing an additional 303 shares during the period. Cornerstone Wealth Group LLC’s holdings in International Business Machines were worth $1,010,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in IBM. Vision Financial Markets LLC acquired a new position in shares of International Business Machines during the fourth quarter valued at approximately $31,000. Rialto Wealth Management LLC acquired a new position in shares of International Business Machines during the fourth quarter valued at approximately $35,000. Tacita Capital Inc increased its stake in shares of International Business Machines by 174.3% during the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock valued at $42,000 after acquiring an additional 122 shares during the period. Measured Risk Portfolios Inc. acquired a new position in shares of International Business Machines during the fourth quarter valued at approximately $43,000. Finally, Park Square Financial Group LLC acquired a new position in shares of International Business Machines during the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IBM. Morgan Stanley lowered their price objective on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Wedbush lifted their price target on shares of International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday. UBS Group restated a “sell” rating and issued a $170.00 price target (up previously from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. BMO Capital Markets restated a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Bank of America lifted their price target 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $253.75.

International Business Machines Trading Up 2.9%

Shares of NYSE:IBM opened at $289.25 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.01 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 $292.95. The firm has a fifty day moving average of $258.71 and a two-hundred day moving average of $246.07. The firm has a market capitalization of $268.83 billion, a P/E ratio of 49.78, a price-to-earnings-growth ratio of 5.90 and a beta of 0.66.

International Business Machines (NYSE:IBM) last released 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 net margin of 8.71% and a return on equity of 37.43%. The business had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same quarter in the previous year, the business earned $1.68 EPS. International Business Machines’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company 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 represents a $6.72 annualized dividend and a yield of 2.32%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) is 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.