Cornerstone Wealth Management LLC Grows Stock Holdings in International Business Machines Co. (NYSE:IBM)

Cornerstone Wealth Management LLC grew its holdings in International Business Machines Co. (NYSE:IBM) by 81.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,872 shares of the technology company’s stock after buying an additional 8,948 shares during the period. Cornerstone Wealth Management LLC’s holdings in International Business Machines were worth $3,795,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Desjardins Global Asset Management Inc. lifted its holdings in shares of International Business Machines by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock worth $644,000 after purchasing an additional 54 shares during the period. Arden Trust Co boosted its holdings in shares of International Business Machines by 2.8% in the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after acquiring an additional 54 shares during the last quarter. Calamos Wealth Management LLC boosted its holdings in shares of International Business Machines by 2.8% in the 4th quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock valued at $328,000 after acquiring an additional 55 shares during the last quarter. Avion Wealth increased its stake in shares of International Business Machines by 6.2% in the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock worth $158,000 after acquiring an additional 56 shares during the period. Finally, Chicago Partners Investment Group LLC raised its holdings in shares of International Business Machines by 0.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after purchasing an additional 58 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

Shares of NYSE IBM traded down $1.57 during trading on Thursday, hitting $175.73. The company had a trading volume of 1,649,049 shares, compared to its average volume of 3,576,998. The firm has a market capitalization of $161.43 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 4.37 and a beta of 0.71. The stock has a fifty day simple moving average of $169.72 and a two-hundred day simple moving average of $176.76. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. 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 posted 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. 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 for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. On average, research analysts expect that International Business Machines Co. will post 9.9 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were paid a $1.67 dividend. 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%. The ex-dividend date was Thursday, May 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

Analyst Ratings Changes

Several equities research analysts have weighed in on IBM shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $190.00 price target on shares of International Business Machines in a research report on Thursday, May 16th. JPMorgan Chase & Co. dropped their target price on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of International Business Machines in a research note on Wednesday, May 22nd. Finally, BNP Paribas began coverage on shares of International Business Machines in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 target price for the company. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $182.53.

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.