Sequoia Financial Advisors LLC Purchases 5,693 Shares of International Business Machines Corporation (NYSE:IBM)

Sequoia Financial Advisors LLC boosted its position in International Business Machines Corporation (NYSE:IBM) by 3.3% during the 1st quarter, Holdings Channel.com reports. The fund owned 179,625 shares of the technology company’s stock after buying an additional 5,693 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in International Business Machines were worth $44,666,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Vision Financial Markets LLC acquired a new position in International Business Machines in the fourth quarter valued at about $31,000. Rialto Wealth Management LLC acquired a new position in International Business Machines in the fourth quarter valued at about $35,000. Tacita Capital Inc lifted its stake in International Business Machines by 174.3% in the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock valued at $42,000 after buying an additional 122 shares during the period. Park Square Financial Group LLC acquired a new position in International Business Machines in the fourth quarter valued at about $43,000. Finally, Measured Risk Portfolios Inc. acquired a new position in International Business Machines in the fourth quarter valued at about $43,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 0.8%

NYSE:IBM opened at $291.38 on Thursday. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The company has a market cap of $270.81 billion, a PE ratio of 50.15, a PEG ratio of 6.17 and a beta of 0.66. International Business Machines Corporation has a 52-week low of $170.41 and a 52-week high of $296.16. The stock has a 50-day simple moving average of $260.83 and a 200 day simple moving average of $246.71.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data 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. The business had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. International Business Machines’s quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the company earned $1.68 earnings per share. On average, sell-side analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a dividend of $1.68 per share. This is an increase 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 2.31%. International Business Machines’s dividend payout ratio (DPR) is presently 115.66%.

Wall Street Analyst Weigh In

IBM has been the topic of several analyst reports. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Bank of America increased their target price on International Business Machines from $290.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, June 18th. Morgan Stanley cut 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 note on Thursday, April 24th. Finally, Wedbush raised their price target on International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, June 20th. One investment analyst has rated the stock with a sell rating, nine have given 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 currently has an average rating of “Hold” and an average target price of $253.75.

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.