Fragasso Group Inc. Acquires 689 Shares of International Business Machines Co. (NYSE:IBM)

Fragasso Group Inc. lifted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 32.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,836 shares of the technology company’s stock after purchasing an additional 689 shares during the quarter. Fragasso Group Inc.’s holdings in International Business Machines were worth $542,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Desjardins Global Asset Management Inc. grew its holdings in shares of International Business Machines by 1.4% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock worth $644,000 after purchasing an additional 54 shares in the last quarter. Arden Trust Co grew its stake in International Business Machines by 2.8% during the first quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock worth $377,000 after buying an additional 54 shares in the last quarter. Calamos Wealth Management LLC increased its holdings in International Business Machines by 2.8% in the 4th quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock valued at $328,000 after buying an additional 55 shares during the period. Avion Wealth raised its position in shares of International Business Machines by 6.2% in the 4th quarter. Avion Wealth now owns 964 shares of the technology company’s stock valued at $158,000 after buying an additional 56 shares in the last quarter. Finally, Chicago Partners Investment Group LLC lifted its holdings in shares of International Business Machines by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after acquiring an additional 58 shares during the period. 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 a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of International Business Machines in a report on Wednesday, May 22nd. UBS Group lifted their target price 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. Jefferies Financial Group cut their target price on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research report on Tuesday, April 23rd. Sanford C. Bernstein raised their price objective on International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. Finally, BMO Capital Markets reduced 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 report on Thursday, April 25th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average target price of $181.29.

International Business Machines Price Performance

Shares of IBM opened at $172.46 on Friday. The business has a 50-day moving average of $170.91 and a 200-day moving average of $176.01. 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 company has a market capitalization of $158.42 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 4.29 and a beta of 0.72. International Business Machines Co. has a 1 year low of $129.18 and a 1 year high of $199.18.

International Business Machines (NYSE:IBM) last released 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. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. During the same quarter last year, the business earned $1.36 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. As a group, equities research analysts anticipate that International Business Machines Co. will post 9.9 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.87%. 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 payout ratio is currently 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.