Fifth Third Wealth Advisors LLC Raises Stock Position in International Business Machines Co. (NYSE:IBM)

Fifth Third Wealth Advisors LLC increased its stake in International Business Machines Co. (NYSE:IBM) by 127.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,891 shares of the technology company’s stock after acquiring an additional 1,621 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in International Business Machines were worth $552,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Naples Money Management LLC purchased a new stake in International Business Machines in the 4th quarter worth $28,000. Creekmur Asset Management LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of International Business Machines during the fourth quarter worth $31,000. Financial Synergies Wealth Advisors Inc. grew its holdings in shares of International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after buying an additional 123 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of International Business Machines by 54.6% during the first quarter. Versant Capital Management Inc now owns 218 shares of the technology company’s stock worth $42,000 after buying an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the subject of a number of research reports. UBS Group upped their target price on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a report on Monday, April 22nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $190.00 target price on shares of International Business Machines in a report on Thursday, May 16th. The Goldman Sachs Group assumed coverage on shares of International Business Machines in a report on Monday. They set a “buy” rating and a $200.00 target price for the company. BMO Capital Markets dropped their price objective on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. Finally, Sanford C. Bernstein upped their price objective on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $182.53.

International Business Machines Trading Down 0.6 %

NYSE IBM traded down $0.99 during trading hours on Thursday, reaching $170.88. The company had a trading volume of 2,893,633 shares, compared to its average volume of 4,569,640. The stock has a 50-day moving average of $170.34 and a 200 day moving average of $176.37. International Business Machines Co. has a 1-year low of $130.91 and a 1-year high of $199.18. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The stock has a market capitalization of $156.97 billion, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 4.26 and a beta of 0.72.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.09. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 earnings per share. As a group, research analysts anticipate that International Business Machines Co. will post 9.9 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 Monday, June 10th. Stockholders of record on Friday, May 10th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend was Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio is currently 75.65%.

International Business Machines Company 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.