WealthSpring Partners LLC Acquires Shares of 3,171 International Business Machines Corporation $IBM

WealthSpring Partners LLC acquired a new stake in shares of International Business Machines Corporation (NYSE:IBM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,171 shares of the technology company’s stock, valued at approximately $939,000. International Business Machines makes up approximately 1.0% of WealthSpring Partners LLC’s portfolio, making the stock its 23rd biggest position.

A number of other institutional investors also recently modified their holdings of IBM. Family CFO Inc bought a new stake in International Business Machines during the 4th quarter valued at $25,000. Basepoint Wealth LLC acquired a new position in shares of International Business Machines during the fourth quarter valued at about $25,000. Joseph Group Capital Management acquired a new position in shares of International Business Machines during the fourth quarter valued at about $28,000. SWAN Capital LLC bought a new stake in shares of International Business Machines during the third quarter worth about $28,000. Finally, DecisionPoint Financial LLC raised its holdings in shares of International Business Machines by 1,666.7% in the 4th quarter. DecisionPoint Financial LLC now owns 106 shares of the technology company’s stock worth $31,000 after acquiring an additional 100 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on IBM shares. Citigroup lifted their price target on International Business Machines from $285.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. DZ Bank raised International Business Machines from a “hold” rating to a “buy” rating and set a $295.00 price objective for the company in a research note on Friday, April 24th. Wedbush set a $350.00 target price on International Business Machines in a research report on Tuesday, June 2nd. Weiss Ratings upgraded International Business Machines from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Finally, Oppenheimer dropped their price objective on International Business Machines from $380.00 to $320.00 and set an “outperform” rating on the stock in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, International Business Machines presently has a consensus rating of “Moderate Buy” and a consensus target price of $304.17.

International Business Machines Price Performance

International Business Machines stock opened at $275.03 on Friday. International Business Machines Corporation has a 52 week low of $212.34 and a 52 week high of $332.46. The company’s 50 day moving average price is $249.46 and its two-hundred day moving average price is $270.33. The stock has a market cap of $258.50 billion, a P/E ratio of 24.32, a P/E/G ratio of 2.82 and a beta of 0.67. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. The company had revenue of $15.92 billion during the quarter, compared to the consensus estimate of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.International Business Machines’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the business posted $1.60 earnings per share. On average, equities analysts predict that International Business Machines Corporation will post 12.4 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were given a dividend of $1.69 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $6.76 annualized dividend and a dividend yield of 2.5%. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. International Business Machines’s payout ratio is 59.77%.

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.