Empirical Finance LLC Buys 1,113 Shares of International Business Machines Co. (NYSE:IBM)

Empirical Finance LLC increased its stake in International Business Machines Co. (NYSE:IBM) by 3.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,692 shares of the technology company’s stock after buying an additional 1,113 shares during the period. Empirical Finance LLC’s holdings in International Business Machines were worth $6,243,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of IBM. Naples Money Management LLC bought a new position in shares of International Business Machines during the fourth quarter valued at approximately $28,000. Creekmur Asset Management LLC bought a new position in shares of International Business Machines during the fourth quarter valued at approximately $29,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of International Business Machines during the fourth quarter valued at approximately $31,000. Financial Synergies Wealth Advisors Inc. increased its stake 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 valued at $38,000 after purchasing an additional 123 shares in the last quarter. Finally, American Capital Advisory LLC increased its stake in shares of International Business Machines by 75.0% during the first quarter. American Capital Advisory LLC now owns 203 shares of the technology company’s stock valued at $39,000 after purchasing an additional 87 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wedbush raised their target price on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Jefferies Financial Group reduced their price target on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. Morgan Stanley reduced their price target on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. UBS Group raised their price target on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research report on Monday, April 22nd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $190.00 price target on shares of International Business Machines in a research report on Thursday, May 16th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $182.53.

International Business Machines Stock Performance

Shares of International Business Machines stock traded up $4.52 on Friday, hitting $182.83. 4,757,220 shares of the company’s stock were exchanged, compared to its average volume of 4,452,928. The company has a 50-day simple moving average of $170.81 and a 200-day simple moving average of $177.30. The stock has a market capitalization of $167.95 billion, a PE ratio of 20.46, a PEG ratio of 4.39 and a beta of 0.71. International Business Machines Co. has a 1 year low of $132.94 and a 1 year high of $199.18. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13.

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 the consensus estimate of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the firm earned $1.36 EPS. As a group, equities analysts anticipate that International Business Machines Co. will post 9.9 EPS for the current 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. This represents a $6.68 annualized dividend and a dividend yield of 3.65%. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend was Thursday, May 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

About International Business Machines

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.