Independent Financial Group LLC Purchases New Shares in International Business Machines Corporation $IBM

Independent Financial Group LLC purchased a new position in shares of International Business Machines Corporation (NYSE:IBM) during the first quarter, HoldingsChannel reports. The fund purchased 24,795 shares of the technology company’s stock, valued at approximately $6,010,000.

A number of other institutional investors have also recently bought and sold shares of the business. Enterprise Financial Services Corp boosted its holdings in International Business Machines by 28.6% in the 1st quarter. Enterprise Financial Services Corp now owns 4,376 shares of the technology company’s stock valued at $1,061,000 after purchasing an additional 974 shares during the period. Frazier Financial Advisors LLC increased its holdings in shares of International Business Machines by 17.2% during the first quarter. Frazier Financial Advisors LLC now owns 799 shares of the technology company’s stock worth $194,000 after purchasing an additional 117 shares during the period. Noesis Capital Mangement Corp raised its position in shares of International Business Machines by 6.5% in the first quarter. Noesis Capital Mangement Corp now owns 1,797 shares of the technology company’s stock valued at $436,000 after buying an additional 109 shares in the last quarter. Wealthfront Advisers LLC raised its position in shares of International Business Machines by 2.7% in the first quarter. Wealthfront Advisers LLC now owns 134,147 shares of the technology company’s stock valued at $32,516,000 after buying an additional 3,481 shares in the last quarter. Finally, Navigation Group LLC bought a new stake in shares of International Business Machines in the first quarter valued at approximately $280,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

International Business Machines stock opened at $219.39 on Friday. International Business Machines Corporation has a 12-month low of $204.44 and a 12-month high of $332.46. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. The business’s 50-day moving average price is $264.17 and its two-hundred day moving average price is $263.94. The stock has a market cap of $206.21 billion, a PE ratio of 19.40, a P/E/G ratio of 2.06 and a beta of 0.68.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.10. The firm had revenue of $15.92 billion during the quarter, compared to analysts’ expectations of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.60 earnings per share. As a group, analysts expect that International Business Machines Corporation will post 12.33 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 Wednesday, June 10th. Investors of record on Friday, May 8th were given a dividend of $1.69 per share. The ex-dividend date was Friday, May 8th. This represents a $6.76 dividend on an annualized basis and a yield of 3.1%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. International Business Machines’s dividend payout ratio is currently 59.77%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Susquehanna initiated coverage on International Business Machines in a research report on Friday, July 10th. They set a “neutral” rating and a $303.00 price target on the stock. Oppenheimer cut International Business Machines from an “outperform” rating to a “market perform” rating in a report on Wednesday. Wolfe Research downgraded International Business Machines to a “peer perform” rating in a research report on Tuesday, June 23rd. Stifel Nicolaus set a $290.00 target price on International Business Machines in a report on Friday, May 22nd. Finally, Citigroup raised their price target on International Business Machines from $285.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Fifteen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.83.

Key Headlines Impacting International Business Machines

Here are the key news stories impacting International Business Machines this week:

• Negative Sentiment: IBM’s preliminary Q2 results came in below expectations, with softer revenue and adjusted EPS fueling the sharp selloff and a major reset in investor confidence. Article Title
• Negative Sentiment: Management said some large deals were delayed as customers reassessed spending, reinforcing concerns that IBM is being hurt by changing enterprise tech budgets and slower software demand. Article Title
• Negative Sentiment: Several reports highlighted the stock’s historic one-day drop, securities-fraud investigations, and analyst downgrades/target cuts, all of which can keep sentiment and trading pressure negative. Article Title

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.