Valley National Advisers Inc. Buys 118 Shares of International Business Machines Co. (NYSE:IBM)

Valley National Advisers Inc. boosted its stake in International Business Machines Co. (NYSE:IBM) by 3.7% in the first quarter, Holdings Channel reports. The firm owned 3,272 shares of the technology company’s stock after purchasing an additional 118 shares during the quarter. Valley National Advisers Inc.’s holdings in International Business Machines were worth $624,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IBM. Schonfeld Strategic Advisors LLC acquired a new position in International Business Machines during the third quarter valued at approximately $801,000. Axxcess Wealth Management LLC raised its holdings in shares of International Business Machines by 43.0% during the 3rd quarter. Axxcess Wealth Management LLC now owns 13,840 shares of the technology company’s stock worth $1,942,000 after buying an additional 4,165 shares in the last quarter. Evergreen Capital Management LLC lifted its position in shares of International Business Machines by 1.3% during the 3rd quarter. Evergreen Capital Management LLC now owns 11,878 shares of the technology company’s stock worth $1,666,000 after buying an additional 152 shares during the last quarter. Legacy Advisors LLC acquired a new stake in International Business Machines in the third quarter valued at about $731,000. Finally, LaSalle St. Investment Advisors LLC grew its position in International Business Machines by 15.4% in the third quarter. LaSalle St. Investment Advisors LLC now owns 3,052 shares of the technology company’s stock valued at $428,000 after acquiring an additional 408 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE:IBM opened at $175.71 on Thursday. The company has a market capitalization of $161.41 billion, a PE ratio of 19.90, a P/E/G ratio of 4.37 and a beta of 0.71. International Business Machines Co. has a fifty-two week low of $131.55 and a fifty-two week 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. The company has a 50 day simple moving average of $169.72 and a two-hundred day simple moving average of $176.76.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $1.36 EPS. 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 business 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 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. This represents a $6.68 annualized dividend and a dividend yield of 3.80%. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Analysts Set New Price Targets

A number of research analysts have recently commented on IBM shares. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. BNP Paribas began coverage on shares of International Business Machines in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of International Business Machines in a research note on Wednesday, May 22nd. The Goldman Sachs Group started coverage on International Business Machines in a research note on Monday, June 24th. They issued a “buy” rating and a $200.00 price target for the company. Finally, Stifel Nicolaus restated a “buy” rating and set a $190.00 price objective 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 assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus 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.