Lifeworks Advisors LLC Boosts Holdings in International Business Machines Corporation (NYSE:IBM)

Lifeworks Advisors LLC grew its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 7.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,887 shares of the technology company’s stock after acquiring an additional 2,561 shares during the quarter. International Business Machines accounts for approximately 1.5% of Lifeworks Advisors LLC’s holdings, making the stock its 13th biggest holding. Lifeworks Advisors LLC’s holdings in International Business Machines were worth $8,924,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc bought a new stake in International Business Machines during the 1st quarter valued at $27,000. Measured Risk Portfolios Inc. purchased a new position in International Business Machines during the 4th quarter valued at $43,000. Park Square Financial Group LLC purchased a new position in International Business Machines during the 4th quarter valued at $43,000. Mascagni Wealth Management Inc. bought a new stake in shares of International Business Machines during the 4th quarter valued at $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of International Business Machines during the 1st quarter valued at $45,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Down 8.5%

IBM stock opened at $258.00 on Thursday. International Business Machines Corporation has a 1-year low of $181.81 and a 1-year high of $296.16. 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 company has a market capitalization of $239.79 billion, a price-to-earnings ratio of 44.41, a PEG ratio of 6.01 and a beta of 0.69. The business has a 50 day simple moving average of $277.95 and a two-hundred day simple moving average of $255.30.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.15. The business had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.43 EPS. Research analysts anticipate that International Business Machines Corporation will post 10.78 EPS 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. Stockholders of record on Friday, May 9th were given 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 2.60%. International Business Machines’s dividend payout ratio is currently 115.66%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on IBM shares. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Morgan Stanley lowered their target price 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. BMO Capital Markets upped their target price on shares of International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a research note on Friday, July 18th. The Goldman Sachs Group upped their target price on shares of International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Finally, Bank of America lowered their target price on shares of International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $265.56.

International Business Machines Company 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.