Broderick Brian C Buys 2,600 Shares of International Business Machines Co. (NYSE:IBM)

Broderick Brian C increased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 120.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,762 shares of the technology company’s stock after acquiring an additional 2,600 shares during the quarter. Broderick Brian C’s holdings in International Business Machines were worth $909,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Naples Money Management LLC bought a new stake in International Business Machines during the fourth quarter worth $28,000. Creekmur Asset Management LLC bought a new stake in shares of International Business Machines in the fourth quarter valued at $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of International Business Machines in the fourth quarter valued at $31,000. Financial Gravity Asset Management Inc. raised its stake in shares of International Business Machines by 67.9% in the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after buying an additional 91 shares during the period. Finally, Financial Synergies Wealth Advisors Inc. raised its stake in shares of International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after buying an additional 123 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

NYSE IBM traded up $0.45 during trading on Thursday, reaching $178.29. The company’s stock had a trading volume of 2,806,788 shares, compared to its average volume of 4,450,637. The stock has a market capitalization of $163.78 billion, a PE ratio of 20.19, a P/E/G ratio of 4.38 and a beta of 0.71. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. The firm has a fifty day moving average of $170.81 and a 200 day moving average of $177.30. International Business Machines Co. has a one year low of $132.57 and a one year high of $199.18.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data 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 firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company’s revenue was up 1.5% on a year-over-year basis. During the same period 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 fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed 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. The ex-dividend date was Thursday, May 9th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a dividend yield of 3.75%. International Business Machines’s dividend payout ratio is 75.65%.

Analyst Ratings Changes

Several analysts have issued reports on IBM shares. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of International Business Machines in a research note on Wednesday, May 22nd. UBS Group lifted their price target on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research report on Monday, April 22nd. BNP Paribas initiated coverage on International Business Machines in a research note on Thursday, May 2nd. They set an “underperform” rating and a $145.00 price objective on the stock. Finally, BMO Capital Markets decreased their price objective on International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $182.53.

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.