Spire Wealth Management Increases Stake in International Business Machines Corporation (NYSE:IBM)

Spire Wealth Management increased its holdings in International Business Machines Corporation (NYSE:IBM) by 2.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,756 shares of the technology company’s stock after purchasing an additional 263 shares during the period. Spire Wealth Management’s holdings in International Business Machines were worth $3,172,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of International Business Machines by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock valued at $20,189,023,000 after purchasing an additional 1,539,888 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of International Business Machines by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock valued at $4,589,145,000 after purchasing an additional 427,499 shares in the last quarter. Capital World Investors raised its holdings in International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock valued at $2,634,577,000 after buying an additional 9,650,534 shares during the last quarter. Northern Trust Corp boosted its position in International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after buying an additional 1,704,209 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in International Business Machines by 9.8% during the 4th 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 valued at $1,783,281,000 after buying an additional 722,582 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the subject of several analyst reports. Citigroup reissued an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. Royal Bank Of Canada increased their price target on shares of International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Bank of America increased their price target on shares of International Business Machines from $290.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, June 18th. Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Wedbush increased their price target on shares of International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, June 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $253.75.

International Business Machines Trading Down 0.8%

Shares of NYSE IBM opened at $291.38 on Thursday. International Business Machines Corporation has a 1 year low of $170.41 and a 1 year high of $296.16. The stock has a market cap of $270.81 billion, a P/E ratio of 50.15, a price-to-earnings-growth ratio of 6.17 and a beta of 0.66. The firm has a 50-day moving average of $260.83 and a 200 day moving average of $246.71. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $14.41 billion. During the same period last year, the company posted $1.68 EPS. International Business Machines’s revenue was up .5% on a year-over-year basis. As a group, 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given 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 yield of 2.31%. International Business Machines’s dividend payout ratio (DPR) is 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.