Monarch Capital Management Inc. Purchases New Stake in International Business Machines Co. (NYSE:IBM)

Monarch Capital Management Inc. bought a new stake in shares of International Business Machines Co. (NYSE:IBM) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 851 shares of the technology company’s stock, valued at approximately $212,000.

Several other hedge funds also recently modified their holdings of IBM. Treasurer of the State of North Carolina raised its position in shares of International Business Machines by 0.8% during the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock valued at $108,942,000 after acquiring an additional 4,131 shares during the last quarter. Blue Zone Wealth Advisors LLC bought a new stake in International Business Machines in the fourth quarter valued at about $242,000. Truist Financial Corp lifted its stake in International Business Machines by 6.5% in the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock valued at $178,296,000 after buying an additional 49,591 shares during the period. Mufg Securities Americas Inc. bought a new position in International Business Machines during the fourth quarter worth about $3,000,000. Finally, QRG Capital Management Inc. increased its stake in shares of International Business Machines by 7.5% in the 4th quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company’s stock valued at $33,118,000 after acquiring an additional 10,467 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 1.5%

IBM opened at $276.17 on Wednesday. The company has a market cap of $256.67 billion, a P/E ratio of 43.08, a price-to-earnings-growth ratio of 5.81 and a beta of 0.66. The company has a fifty day moving average price of $249.27 and a two-hundred day moving average price of $242.69. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 1-year low of $166.81 and a 1-year high of $277.47.

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 the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.68 earnings per share. Analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a dividend of $1.68 per share. 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 dividend yield of 2.43%. International Business Machines’s dividend payout ratio (DPR) is currently 115.66%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on IBM shares. Morgan Stanley decreased their price objective on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. UBS Group reiterated a “sell” rating and set a $170.00 target price (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 target on International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, International Business Machines currently has an average rating of “Hold” and an average price target of $250.31.

About International Business Machines

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.