Westfuller Advisors LLC Boosts Stock Holdings in International Business Machines Corporation $IBM

Westfuller Advisors LLC grew its holdings in International Business Machines Corporation (NYSE:IBM) by 534.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,685 shares of the technology company’s stock after purchasing an additional 3,947 shares during the quarter. Westfuller Advisors LLC’s holdings in International Business Machines were worth $1,136,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in International Business Machines by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company’s stock valued at $28,796,390,000 after buying an additional 1,439,824 shares during the period. State Street Corp raised its stake in International Business Machines by 1.0% in the fourth quarter. State Street Corp now owns 54,996,293 shares of the technology company’s stock worth $16,290,452,000 after buying an additional 518,321 shares in the last quarter. Geode Capital Management LLC lifted its holdings in International Business Machines by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company’s stock worth $6,679,105,000 after buying an additional 336,069 shares during the period. Capital World Investors lifted its holdings in International Business Machines by 29.2% during the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock worth $6,523,720,000 after buying an additional 4,976,756 shares during the period. Finally, Norges Bank bought a new stake in International Business Machines during the 4th quarter valued at $2,446,429,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM stock opened at $288.95 on Monday. International Business Machines Corporation has a 12-month low of $212.34 and a 12-month high of $332.46. The business’s fifty day simple moving average is $256.99 and its 200-day simple moving average is $266.06. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. The company has a market cap of $271.58 billion, a PE ratio of 25.55, a PEG ratio of 3.00 and a beta of 0.68.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.10. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The firm had revenue of $15.92 billion during the quarter, compared to analysts’ expectations of $15.60 billion. During the same quarter last year, the firm earned $1.60 EPS. The business’s quarterly revenue was up 9.5% on a year-over-year basis. Analysts expect that International Business Machines Corporation will post 12.4 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were issued a $1.69 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. This represents a $6.76 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, May 8th. International Business Machines’s dividend payout ratio is 59.77%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on IBM shares. Wolfe Research lowered International Business Machines to a “peer perform” rating in a research report on Tuesday, June 23rd. Weiss Ratings cut International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 24th. Needham & Company LLC began coverage on International Business Machines in a research note on Wednesday, June 3rd. They issued a “buy” rating on the stock. Susquehanna started coverage on shares of International Business Machines in a report on Tuesday, June 23rd. They issued a “neutral” rating for the company. Finally, HSBC raised shares of International Business Machines from a “reduce” rating to a “hold” rating and increased their price target for the company from $218.00 to $231.00 in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $306.76.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.