International Business Machines Co. (NYSE:IBM) Shares Bought by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC grew its position in International Business Machines Co. (NYSE:IBM) by 81.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 19,872 shares of the technology company’s stock after acquiring an additional 8,948 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in International Business Machines were worth $3,795,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Vontobel Holding Ltd. increased its stake in International Business Machines by 20.3% in the fourth quarter. Vontobel Holding Ltd. now owns 477,193 shares of the technology company’s stock valued at $78,045,000 after purchasing an additional 80,474 shares during the period. Tsfg LLC increased its position in International Business Machines by 40.5% in the 4th quarter. Tsfg LLC now owns 378 shares of the technology company’s stock valued at $62,000 after acquiring an additional 109 shares during the period. Auxano Advisors LLC raised its stake in International Business Machines by 4.8% during the 4th quarter. Auxano Advisors LLC now owns 3,398 shares of the technology company’s stock valued at $556,000 after acquiring an additional 156 shares during the last quarter. West Family Investments Inc. lifted its position in International Business Machines by 7.6% during the 4th quarter. West Family Investments Inc. now owns 2,736 shares of the technology company’s stock worth $447,000 after acquiring an additional 194 shares during the period. Finally, Mosley Wealth Management purchased a new stake in shares of International Business Machines during the fourth quarter worth approximately $312,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Down 0.9 %

Shares of NYSE:IBM traded down $1.57 during trading on Thursday, reaching $175.73. The stock had a trading volume of 1,649,049 shares, compared to its average volume of 3,576,998. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The stock has a market cap of $161.43 billion, a P/E ratio of 19.90, a PEG ratio of 4.37 and a beta of 0.71. The business has a fifty day moving average price of $169.72 and a 200-day moving average price of $176.76. International Business Machines Co. has a fifty-two week low of $131.55 and a fifty-two week high of $199.18.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same period in the previous year, the firm posted $1.36 EPS. International Business Machines’s revenue was up 1.5% on a year-over-year basis. As a group, analysts anticipate that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a dividend of $1.67 per share. The ex-dividend date was Thursday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 3.80%. International Business Machines’s dividend payout ratio is 75.65%.

Analyst Ratings Changes

Several equities research analysts have commented on IBM shares. Sanford C. Bernstein boosted their target price on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $190.00 target price on shares of International Business Machines in a report on Thursday, May 16th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of International Business Machines in a report on Wednesday, May 22nd. BNP Paribas began coverage on International Business Machines in a report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their price target on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $182.53.

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.