Hexagon Capital Partners LLC Raises Stock Position in International Business Machines Co. (NYSE:IBM)

Hexagon Capital Partners LLC lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 7.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,810 shares of the technology company’s stock after acquiring an additional 569 shares during the quarter. International Business Machines accounts for about 0.3% of Hexagon Capital Partners LLC’s holdings, making the stock its 21st biggest position. Hexagon Capital Partners LLC’s holdings in International Business Machines were worth $1,491,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Naples Money Management LLC acquired a new position in shares of International Business Machines during the 4th quarter worth $28,000. Creekmur Asset Management LLC acquired a new position in International Business Machines during the fourth quarter worth about $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of International Business Machines in the fourth quarter valued at about $31,000. Stone House Investment Management LLC grew its position in shares of International Business Machines by 971.4% in the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 204 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. raised its position in shares of International Business Machines by 67.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 91 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 1.2 %

IBM traded up $2.15 on Monday, reaching $175.10. 3,306,813 shares of the company’s stock were exchanged, compared to its average volume of 4,556,641. International Business Machines Co. has a twelve month low of $131.55 and a twelve month high of $199.18. The company’s 50 day moving average is $169.95 and its 200-day moving average is $176.57. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. The company has a market cap of $160.85 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 4.27 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.09. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.36 earnings per share. Equities analysts predict that International Business Machines Co. will post 9.9 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date was Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s payout ratio is currently 75.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IBM shares. Jefferies Financial Group lowered their target price on International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a report on Tuesday, April 23rd. JPMorgan Chase & Co. dropped their price objective on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Morgan Stanley reduced their target price on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Stifel Nicolaus reiterated a “buy” rating and set a $190.00 price target on shares of International Business Machines in a report on Thursday, May 16th. Finally, BMO Capital Markets reduced their price objective on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $182.53.

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.