1,247 Shares in International Business Machines Co. (NYSE:IBM) Acquired by NavPoint Financial Inc.

NavPoint Financial Inc. purchased a new position in shares of International Business Machines Co. (NYSE:IBM) in the 4th quarter, Holdings Channel reports. The firm purchased 1,247 shares of the technology company’s stock, valued at approximately $204,000.

A number of other institutional investors have also added to or reduced their stakes in IBM. Connecticut Wealth Management LLC increased its holdings in International Business Machines by 26.3% in the 4th quarter. Connecticut Wealth Management LLC now owns 6,434 shares of the technology company’s stock worth $1,052,000 after acquiring an additional 1,338 shares during the last quarter. Avalon Trust Co boosted its holdings in International Business Machines by 29.7% in the fourth quarter. Avalon Trust Co now owns 1,561 shares of the technology company’s stock worth $255,000 after acquiring an additional 357 shares in the last quarter. Royal Fund Management LLC lifted its holdings in shares of International Business Machines by 2.0% during the fourth quarter. Royal Fund Management LLC now owns 33,973 shares of the technology company’s stock valued at $5,560,000 after purchasing an additional 658 shares in the last quarter. AJOVista LLC purchased a new stake in International Business Machines during the fourth quarter valued at $119,000. Finally, Provence Wealth Management Group increased its position in International Business Machines by 12.4% during the fourth quarter. Provence Wealth Management Group now owns 3,119 shares of the technology company’s stock valued at $510,000 after acquiring an additional 344 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IBM has been the topic of several research reports. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Evercore ISI upgraded International Business Machines from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $165.00 to $200.00 in a research note on Friday, January 19th. Jefferies Financial Group cut their price target on International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. cut their target price on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Finally, Bank of America lifted their price objective on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus price target of $181.29.

International Business Machines Stock Performance

Shares of IBM stock traded up $1.02 during mid-day trading on Friday, reaching $165.71. The stock had a trading volume of 3,400,405 shares, compared to its average volume of 4,768,629. International Business Machines Co. has a one year low of $120.55 and a one year high of $199.18. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The firm’s 50 day simple moving average is $185.75 and its 200 day simple moving average is $171.01. The firm has a market cap of $152.22 billion, a PE ratio of 18.77, a P/E/G ratio of 4.05 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the firm earned $1.36 EPS. On average, analysts forecast that International Business Machines Co. will post 9.92 EPS for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a dividend of $1.67 per share. The ex-dividend date is Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.03%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

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.