Horizon Wealth Management LLC Purchases 967 Shares of International Business Machines Co. (NYSE:IBM)

Horizon Wealth Management LLC grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 55.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,710 shares of the technology company’s stock after purchasing an additional 967 shares during the period. Horizon Wealth Management LLC’s holdings in International Business Machines were worth $518,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of International Business Machines in the fourth quarter worth $1,019,009,000. International Assets Investment Management LLC boosted its holdings in shares of International Business Machines by 15,439.1% during the fourth quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock worth $433,974,000 after purchasing an additional 2,636,386 shares during the period. Morgan Stanley boosted its holdings in shares of International Business Machines by 13.4% during the third quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock worth $2,280,968,000 after purchasing an additional 1,919,490 shares during the period. Capital Wealth Planning LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth about $172,887,000. Finally, Junto Capital Management LP purchased a new stake in shares of International Business Machines during the fourth quarter worth about $62,020,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Up 1.6 %

Shares of International Business Machines stock traded up $2.69 on Monday, reaching $175.64. The company had a trading volume of 1,707,901 shares, compared to its average volume of 4,543,743. International Business Machines Co. has a 52-week low of $131.55 and a 52-week high of $199.18. The firm’s 50 day moving average price is $169.95 and its two-hundred day moving average price is $176.57. The firm has a market cap of $161.34 billion, a PE ratio of 19.77, a PEG ratio of 4.27 and a beta of 0.71. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter in the previous year, the business posted $1.36 EPS. The firm’s revenue was up 1.5% on a year-over-year basis. Sell-side analysts predict that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend was Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s payout ratio is 75.65%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IBM. BNP Paribas started coverage on shares of International Business Machines in a report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price objective for the company. Jefferies Financial Group reduced their price target on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. BMO Capital Markets cut their target price on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Wedbush lifted their price target on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Finally, StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $182.53.

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.