Braun Stacey Associates Inc. Invests $1.03 Million in International Business Machines Corporation (NYSE:IBM)

Braun Stacey Associates Inc. purchased a new position in shares of International Business Machines Corporation (NYSE:IBM) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,127 shares of the technology company’s stock, valued at approximately $1,026,000.

Several other institutional investors and hedge funds also recently made changes to their positions in IBM. Vision Financial Markets LLC bought a new position in shares of International Business Machines during the 4th quarter worth $31,000. Rialto Wealth Management LLC bought a new position in shares of International Business Machines during the 4th quarter worth $35,000. Measured Risk Portfolios Inc. bought a new position in shares of International Business Machines during the 4th quarter worth $43,000. Park Square Financial Group LLC purchased a new stake in International Business Machines during the 4th quarter worth about $43,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in International Business Machines during the 4th quarter worth about $43,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $291.66 on Friday. The stock has a market cap of $271.06 billion, a price-to-earnings ratio of 50.20, a P/E/G ratio of 6.13 and a beta of 0.69. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a 1-year low of $173.95 and a 1-year high of $296.16. The stock’s 50-day moving average is $268.36 and its 200 day moving average is $249.65.

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

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a $1.68 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.30%. International Business Machines’s payout ratio is 115.66%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wall Street Zen cut International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. UBS Group reissued a “sell” rating and set a $170.00 price objective (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. KGI Securities set a $242.00 price objective on International Business Machines and gave the stock a “hold” rating in a report on Thursday, April 24th. Bank of America increased their price objective on International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, June 18th. Finally, Citigroup reissued an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $257.50.

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.