International Business Machines Corporation (NYSE:IBM) Shares Purchased by Sierra Ocean LLC

Sierra Ocean LLC lifted its stake in International Business Machines Corporation (NYSE:IBM) by 15.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 455 shares of the technology company’s stock after purchasing an additional 62 shares during the quarter. Sierra Ocean LLC’s holdings in International Business Machines were worth $113,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IBM. Brighton Jones LLC increased its holdings in shares of International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after purchasing an additional 2,323 shares during the last quarter. Assetmark Inc. increased its stake in International Business Machines by 5.7% during the fourth quarter. Assetmark Inc. now owns 40,688 shares of the technology company’s stock worth $8,944,000 after acquiring an additional 2,210 shares during the last quarter. Proficio Capital Partners LLC increased its stake in International Business Machines by 81.5% during the fourth quarter. Proficio Capital Partners LLC now owns 2,686 shares of the technology company’s stock worth $591,000 after acquiring an additional 1,206 shares during the last quarter. Callan Family Office LLC increased its stake in International Business Machines by 615.5% during the fourth quarter. Callan Family Office LLC now owns 8,822 shares of the technology company’s stock worth $1,939,000 after acquiring an additional 7,589 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC increased its stake in International Business Machines by 82.0% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 16,178 shares of the technology company’s stock worth $3,556,000 after acquiring an additional 7,290 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Up 1.4%

Shares of NYSE IBM opened at $291.66 on Friday. The company has a market capitalization of $271.06 billion, a price-to-earnings ratio of 50.20, a price-to-earnings-growth ratio of 6.13 and a beta of 0.69. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. The business has a 50-day moving average of $268.36 and a two-hundred day moving average of $249.86. International Business Machines Corporation has a 1 year low of $174.45 and a 1 year high of $296.16.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $1.68 EPS. 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 company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $1.68 dividend. 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 2.30%. International Business Machines’s payout ratio is presently 115.66%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on IBM shares. Bank of America raised their target price on International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, June 18th. KGI Securities set a $242.00 target price on International Business Machines and gave the stock a “hold” rating in a research note on Thursday, April 24th. Royal Bank Of Canada raised their target price on International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Citigroup reissued an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. Finally, Wedbush lifted their price objective on International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, June 20th. One 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $257.50.

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.