Ignite Planners LLC Has $539,000 Stock Position in International Business Machines Co. (NYSE:IBM)

Ignite Planners LLC lowered its stake in International Business Machines Co. (NYSE:IBM) by 43.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,839 shares of the technology company’s stock after selling 2,147 shares during the period. Ignite Planners LLC’s holdings in International Business Machines were worth $539,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of IBM. Naples Money Management LLC acquired a new position in International Business Machines in the 4th quarter valued at about $28,000. Creekmur Asset Management LLC bought a new stake in International Business Machines in the 4th quarter valued at about $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in International Business Machines in the 4th quarter valued at about $31,000. Stone House Investment Management LLC boosted its holdings in International Business Machines by 971.4% in the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 204 shares during the period. Finally, Financial Gravity Asset Management Inc. boosted its holdings in International Business Machines by 67.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 91 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $175.02 on Tuesday. The company has a market cap of $160.77 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 4.25 and a beta of 0.72. 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 50 day simple moving average of $170.79 and a 200 day simple moving average of $176.33. International Business Machines Co. has a one year low of $129.31 and a one year high of $199.18.

International Business Machines (NYSE:IBM) last issued 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. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter in the prior year, the firm earned $1.36 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. Research analysts predict 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. Shareholders of record on Friday, May 10th were given a $1.67 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 3.82%. The ex-dividend date was Thursday, May 9th. International Business Machines’s dividend payout ratio is 75.65%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IBM. Morgan Stanley cut their price objective on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. BNP Paribas began 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 for the company. BMO Capital Markets cut 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. Sanford C. Bernstein boosted 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. Finally, UBS Group upped their price target 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. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $182.53.

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.