Whelan Financial Acquires New Stake in International Business Machines Co. (NYSE:IBM)

Whelan Financial bought a new stake in International Business Machines Co. (NYSE:IBM) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,314 shares of the technology company’s stock, valued at approximately $251,000.

Several other hedge funds have also recently made changes to their positions in IBM. Schonfeld Strategic Advisors LLC purchased a new stake in International Business Machines during the third quarter valued at about $801,000. Axxcess Wealth Management LLC increased its holdings in International Business Machines by 43.0% during the 3rd quarter. Axxcess Wealth Management LLC now owns 13,840 shares of the technology company’s stock valued at $1,942,000 after purchasing an additional 4,165 shares during the period. Evergreen Capital Management LLC lifted its holdings in International Business Machines by 1.3% in the 3rd quarter. Evergreen Capital Management LLC now owns 11,878 shares of the technology company’s stock worth $1,666,000 after buying an additional 152 shares during the period. Legacy Advisors LLC bought a new stake in shares of International Business Machines in the 3rd quarter worth approximately $731,000. Finally, LaSalle St. Investment Advisors LLC increased its stake in shares of International Business Machines by 15.4% during the third quarter. LaSalle St. Investment Advisors LLC now owns 3,052 shares of the technology company’s stock valued at $428,000 after buying an additional 408 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

Shares of International Business Machines stock traded down $1.57 on Thursday, reaching $175.73. The company’s stock had a trading volume of 1,649,049 shares, compared to its average volume of 3,576,998. The stock has a 50-day moving average price of $169.55 and a 200-day moving average price of $176.76. International Business Machines Co. has a 52-week low of $131.55 and a 52-week high of $199.18. The company has a market capitalization of $161.43 billion, a P/E ratio of 19.90, a PEG ratio of 4.37 and a beta of 0.71. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share (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 net margin of 13.18% and a return on equity of 40.21%. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.36 EPS. Analysts expect that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were paid a $1.67 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date was Thursday, May 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.80%. International Business Machines’s payout ratio is 75.65%.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of 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. Wedbush raised their price objective on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. BNP Paribas assumed coverage on shares of International Business Machines in a report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price objective on the stock. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Finally, Bank of America lifted their target price on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $182.53.

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.