International Business Machines Corporation (NYSE:IBM) Shares Purchased by Mattern Wealth Management LLC

Mattern Wealth Management LLC lifted its stake in International Business Machines Corporation (NYSE:IBM) by 12.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,761 shares of the technology company’s stock after acquiring an additional 200 shares during the period. Mattern Wealth Management LLC’s holdings in International Business Machines were worth $438,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in IBM. MinichMacGregor Wealth Management LLC bought a new position in International Business Machines during the 1st quarter valued at $396,000. Treasurer of the State of North Carolina boosted its stake in International Business Machines by 0.8% during the fourth 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 buying an additional 4,131 shares in the last quarter. Mufg Securities Americas Inc. acquired a new position in International Business Machines during the fourth quarter worth about $3,000,000. Magnolia Private Wealth LLC bought a new stake in International Business Machines in the first quarter worth about $239,000. Finally, QRG Capital Management Inc. lifted its holdings in 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. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

NYSE IBM opened at $293.89 on Wednesday. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. The firm has a market capitalization of $273.14 billion, a price-to-earnings ratio of 50.58, a price-to-earnings-growth ratio of 6.07 and a beta of 0.66. The company has a 50 day simple moving average of $259.78 and a 200-day simple moving average of $246.40. International Business Machines Corporation has a 52-week low of $170.41 and a 52-week high of $294.60.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The company had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter in the prior year, the firm earned $1.68 EPS. The company’s revenue was up .5% compared to the same quarter last year. Equities research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.29%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is 115.66%.

Wall Street Analysts Forecast Growth

IBM has been the topic of several recent research reports. Morgan Stanley lowered their price objective on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Wall Street Zen cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. UBS Group reissued a “sell” rating and set a $170.00 price objective (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, KGI Securities set a $242.00 target price on International Business Machines and gave the stock a “hold” rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $253.75.

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.