Aspire Private Capital LLC Acquires New Holdings in International Business Machines Corporation (NYSE:IBM)

Aspire Private Capital LLC purchased a new stake in International Business Machines Corporation (NYSE:IBM) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 826 shares of the technology company’s stock, valued at approximately $205,000.

Other institutional investors have also recently bought and sold shares of the company. Treasurer of the State of North Carolina raised its position in International Business Machines by 0.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock worth $108,942,000 after acquiring an additional 4,131 shares in the last quarter. Mufg Securities Americas Inc. acquired a new position in shares of International Business Machines in the fourth quarter valued at $3,000,000. Magnolia Private Wealth LLC acquired a new position in shares of International Business Machines in the first quarter valued at $239,000. QRG Capital Management Inc. increased its holdings in shares of International Business Machines by 7.5% in the fourth quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company’s stock valued at $33,118,000 after purchasing an additional 10,467 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. increased its holdings in shares of International Business Machines by 0.8% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 141,448 shares of the technology company’s stock valued at $35,172,000 after purchasing an additional 1,058 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the topic of several research reports. Morgan Stanley decreased their price objective on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. Citigroup restated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. Royal Bank Of Canada upped their price target on shares of International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Finally, Bank of America upped their price target on shares of International Business Machines from $290.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $253.75.

International Business Machines Trading Down 0.9%

Shares of International Business Machines stock opened at $280.67 on Friday. The company has a market capitalization of $260.85 billion, a price-to-earnings ratio of 48.31, a PEG ratio of 5.90 and a beta of 0.66. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a 12-month low of $170.41 and a 12-month high of $286.91. The firm’s 50-day moving average price is $257.71 and its two-hundred day moving average price is $245.64.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to analysts’ expectations of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.68 earnings per share. On average, analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a dividend of $1.68 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.39%. International Business Machines’s dividend payout ratio (DPR) is 115.66%.

International Business Machines Company 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.