Lakeridge Wealth Management LLC Has $3.53 Million Holdings in International Business Machines Co. (NYSE:IBM)

Lakeridge Wealth Management LLC lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 0.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 14,212 shares of the technology company’s stock after purchasing an additional 52 shares during the quarter. International Business Machines makes up about 1.8% of Lakeridge Wealth Management LLC’s portfolio, making the stock its 16th largest holding. Lakeridge Wealth Management LLC’s holdings in International Business Machines were worth $3,534,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of IBM. Vanguard Group Inc. grew its holdings in International Business Machines by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock worth $20,189,023,000 after purchasing an additional 1,539,888 shares during the period. Geode Capital Management LLC grew its holdings in International Business Machines by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock worth $4,589,145,000 after purchasing an additional 427,499 shares during the period. Capital World Investors grew its holdings in International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after purchasing an additional 9,650,534 shares during the period. Northern Trust Corp grew its holdings in International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after purchasing an additional 1,704,209 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in International Business Machines by 9.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company’s stock worth $1,783,281,000 after purchasing an additional 722,582 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IBM has been the subject of a number of research reports. UBS Group restated a “sell” rating and issued a $170.00 price target (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Bank of America raised their price objective on shares of International Business Machines from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, June 9th. Wedbush reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of International Business Machines in a research note on Wednesday, May 7th. Citigroup reaffirmed an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. Finally, Wall Street Zen lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $250.31.

International Business Machines Stock Down 1.5%

IBM opened at $276.84 on Friday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The company’s 50-day moving average is $252.60 and its 200 day moving average is $243.67. International Business Machines Co. has a fifty-two week low of $167.23 and a fifty-two week high of $283.06. The firm has a market capitalization of $257.29 billion, a P/E ratio of 43.19, a PEG ratio of 5.81 and a beta of 0.66.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.18. The company had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The firm’s revenue was up .5% on a year-over-year basis. During the same period last year, the firm earned $1.68 earnings per share. Research analysts expect that International Business Machines Co. will post 10.78 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 Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a $1.68 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.43%. International Business Machines’s payout ratio is currently 115.66%.

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.