Tennessee Valley Asset Management Partners Purchases Shares of 891 International Business Machines Co. (NYSE:IBM)

Tennessee Valley Asset Management Partners purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) during the first quarter, HoldingsChannel reports. The fund purchased 891 shares of the technology company’s stock, valued at approximately $221,000.

A number of other hedge funds also recently bought and sold shares of the business. Treasurer of the State of North Carolina grew its holdings in 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 worth $108,942,000 after acquiring an additional 4,131 shares in the last quarter. Truist Financial Corp increased its stake in shares of International Business Machines by 6.5% in the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after acquiring an additional 49,591 shares during the period. Mufg Securities Americas Inc. acquired a new stake in shares of International Business Machines in the fourth quarter worth $3,000,000. Magnolia Private Wealth LLC acquired a new stake in International Business Machines during the first quarter valued at $239,000. Finally, QRG Capital Management Inc. grew its position in International Business Machines by 7.5% during the fourth quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company’s stock valued at $33,118,000 after buying an additional 10,467 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 1.6%

International Business Machines stock opened at $281.66 on Tuesday. The firm has a fifty day moving average price of $253.83 and a two-hundred day moving average price of $244.28. International Business Machines Co. has a fifty-two week low of $167.50 and a fifty-two week high of $284.50. 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 firm has a market cap of $261.77 billion, a price-to-earnings ratio of 43.94, a P/E/G ratio of 5.81 and a beta of 0.66.

International Business Machines (NYSE:IBM) last posted its 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. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The business had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. During the same quarter in the previous year, the firm posted $1.68 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis. As a group, analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current 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 paid a $1.68 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.39%. International Business Machines’s dividend payout ratio (DPR) is 115.66%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on IBM shares. 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. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. UBS Group restated a “sell” rating and issued a $170.00 price target (up previously from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Morgan Stanley dropped their target price on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $250.31.

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.