BKM Wealth Management LLC Boosts Stake in International Business Machines Co. (NYSE:IBM)

BKM Wealth Management LLC lifted its stake in International Business Machines Co. (NYSE:IBM) by 1.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,129 shares of the technology company’s stock after purchasing an additional 104 shares during the period. BKM Wealth Management LLC’s holdings in International Business Machines were worth $1,743,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirador Capital Partners LP grew its position in shares of International Business Machines by 16.7% during the first quarter. Mirador Capital Partners LP now owns 6,220 shares of the technology company’s stock valued at $1,188,000 after purchasing an additional 891 shares in the last quarter. Chapin Davis Inc. bought a new position in shares of International Business Machines in the 1st quarter valued at about $205,000. LVW Advisors LLC bought a new position in shares of International Business Machines in the 1st quarter valued at about $330,000. Citizens Business Bank lifted its stake in International Business Machines by 11.5% in the first quarter. Citizens Business Bank now owns 2,092 shares of the technology company’s stock worth $399,000 after purchasing an additional 216 shares during the last quarter. Finally, Financial Partners Group LLC lifted its stake in International Business Machines by 47.0% in the first quarter. Financial Partners Group LLC now owns 9,324 shares of the technology company’s stock worth $1,780,000 after purchasing an additional 2,982 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of International Business Machines stock traded up $2.35 during trading hours on Monday, reaching $175.30. The stock had a trading volume of 1,236,251 shares, compared to its average volume of 4,539,422. The stock’s 50 day moving average is $169.95 and its 200 day moving average is $176.57. The firm has a market capitalization of $161.03 billion, a PE ratio of 19.77, a PEG ratio of 4.27 and a beta of 0.71. International Business Machines Co. has a twelve month low of $131.55 and a twelve month high of $199.18. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last released its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $14.53 billion. During the same quarter in the previous year, the company earned $1.36 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. Equities analysts expect 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 disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.81%. The ex-dividend date was Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio is currently 75.65%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IBM. UBS Group raised their price objective on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research note on Monday, April 22nd. JPMorgan Chase & Co. reduced their target price 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of International Business Machines in a research report on Wednesday, May 22nd. The Goldman Sachs Group started coverage on shares of International Business Machines in a report on Monday, June 24th. They set a “buy” rating and a $200.00 price objective on the stock. Finally, StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Three equities research 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 company presently has an average rating of “Hold” and an average price target 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.