Bogart Wealth LLC Grows Stock Position in International Business Machines Corporation $IBM

Bogart Wealth LLC boosted its holdings in International Business Machines Corporation (NYSE:IBM) by 52.8% during the first quarter, Holdings Channel.com reports. The fund owned 71,902 shares of the technology company’s stock after acquiring an additional 24,837 shares during the period. International Business Machines accounts for 0.7% of Bogart Wealth LLC’s investment portfolio, making the stock its 26th largest holding. Bogart Wealth LLC’s holdings in International Business Machines were worth $17,428,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Family CFO Inc purchased a new stake in shares of International Business Machines in the fourth quarter valued at about $25,000. Basepoint Wealth LLC purchased a new position in shares of International Business Machines during the 4th quarter worth approximately $25,000. Portus Wealth Advisors LLC acquired a new position in shares of International Business Machines during the 1st quarter worth approximately $26,000. Joseph Group Capital Management acquired a new position in shares of International Business Machines during the 4th quarter worth approximately $28,000. Finally, Cornerstone Financial Management LLC purchased a new stake in International Business Machines in the 4th quarter valued at approximately $28,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

IBM stock opened at $288.95 on Monday. The stock has a market capitalization of $271.58 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 3.00 and a beta of 0.68. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. International Business Machines Corporation has a 52-week low of $212.34 and a 52-week high of $332.46. The stock’s fifty day simple moving average is $256.99 and its 200-day simple moving average is $266.06.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.81 by $0.10. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The firm had revenue of $15.92 billion during the quarter, compared to analyst estimates of $15.60 billion. During the same period in the prior year, the firm posted $1.60 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. Equities research analysts expect that International Business Machines Corporation will post 12.4 EPS for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were paid a dividend of $1.69 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.3%. This is an increase from International Business Machines’s previous quarterly dividend of $1.68. International Business Machines’s dividend payout ratio is currently 59.77%.

Analysts Set New Price Targets

IBM has been the topic of a number of analyst reports. JPMorgan Chase & Co. upgraded International Business Machines from a “neutral” rating to an “overweight” rating and increased their target price for the company from $270.00 to $291.00 in a report on Tuesday, June 23rd. DZ Bank upgraded International Business Machines from a “hold” rating to a “buy” rating and set a $295.00 price objective on the stock in a research report on Friday, April 24th. Needham & Company LLC assumed coverage on International Business Machines in a research report on Wednesday, June 3rd. They set a “buy” rating for the company. BMO Capital Markets cut their target price on shares of International Business Machines from $290.00 to $270.00 and set a “market perform” rating for the company in a research note on Thursday, April 23rd. Finally, Oppenheimer reduced their target price on shares of International Business Machines from $380.00 to $320.00 and set an “outperform” rating on the stock in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $306.76.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.