Altiora Financial Group LLC Invests $215,000 in International Business Machines Co. (NYSE:IBM)

Altiora Financial Group LLC acquired a new stake in shares of International Business Machines Co. (NYSE:IBM) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,128 shares of the technology company’s stock, valued at approximately $215,000.

Several other hedge funds also recently modified their holdings of IBM. Tower Wealth Partners Inc. raised its stake in shares of International Business Machines by 26.0% during the first quarter. Tower Wealth Partners Inc. now owns 2,041 shares of the technology company’s stock valued at $390,000 after acquiring an additional 421 shares during the last quarter. Naviter Wealth LLC lifted its stake in shares of International Business Machines by 12.4% in the first quarter. Naviter Wealth LLC now owns 8,849 shares of the technology company’s stock worth $1,690,000 after acquiring an additional 975 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new stake in International Business Machines in the first quarter valued at approximately $81,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in International Business Machines during the 1st quarter worth approximately $1,967,000. Finally, Narus Financial Partners LLC lifted its position in shares of International Business Machines by 8.4% in the 1st quarter. Narus Financial Partners LLC now owns 1,979 shares of the technology company’s stock worth $378,000 after purchasing an additional 153 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

International Business Machines stock traded down $1.57 during mid-day trading on Wednesday, reaching $175.73. 1,647,300 shares of the company’s stock were exchanged, compared to its average volume of 4,520,561. The firm has a market capitalization of $161.43 billion, a PE ratio of 19.98, a P/E/G ratio of 4.27 and a beta of 0.71. 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 business’s fifty day simple moving average is $169.72 and its 200 day simple moving average is $176.76. International Business Machines Co. has a one year low of $131.55 and a one year 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, topping analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same period in the previous year, the firm earned $1.36 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. On average, sell-side analysts expect 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 declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were paid a dividend of $1.67 per share. The ex-dividend date was Thursday, May 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.80%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of International Business Machines in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 target price for the company. UBS Group upped their target price on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research report on Monday, April 22nd. Morgan Stanley lowered their price objective on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. BMO Capital Markets dropped their price target on 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. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of International Business Machines in a research report on Wednesday, May 22nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, International Business Machines presently has an average 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.