71 West Capital Partners Makes New Investment in International Business Machines Corporation $IBM

71 West Capital Partners purchased a new position in shares of International Business Machines Corporation (NYSE:IBM) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 2,462 shares of the technology company’s stock, valued at approximately $729,000.

A number of other large investors have also recently bought and sold shares of the business. Faithward Advisors LLC grew its holdings in International Business Machines by 634.2% during the 4th quarter. Faithward Advisors LLC now owns 16,247 shares of the technology company’s stock worth $4,813,000 after acquiring an additional 14,034 shares during the period. Capital Financial Group Inc. Co. ADV acquired a new stake in shares of International Business Machines in the 4th quarter valued at about $1,899,000. Oarsman Capital Inc. grew its stake in shares of International Business Machines by 1.8% in the 4th quarter. Oarsman Capital Inc. now owns 13,860 shares of the technology company’s stock valued at $4,105,000 after buying an additional 245 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in shares of International Business Machines by 2.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 3,485 shares of the technology company’s stock valued at $1,032,000 after buying an additional 70 shares during the period. Finally, Trustco Bank Corp N Y grew its stake in shares of International Business Machines by 3.8% in the 4th quarter. Trustco Bank Corp N Y now owns 4,746 shares of the technology company’s stock valued at $1,406,000 after buying an additional 175 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

IBM stock opened at $268.19 on Tuesday. The company has a market capitalization of $252.07 billion, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 2.82 and a beta of 0.66. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80. International Business Machines Corporation has a 52-week low of $212.34 and a 52-week high of $332.46. The business has a 50-day simple moving average of $250.42 and a two-hundred day simple moving average of $269.84.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. The business had revenue of $15.92 billion during the quarter, compared to the consensus estimate of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.60 EPS. Research analysts expect that International Business Machines Corporation will post 12.38 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were paid a dividend of $1.69 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date was Friday, May 8th. This represents a $6.76 dividend on an annualized basis and a yield of 2.5%. International Business Machines’s dividend payout ratio (DPR) is presently 59.77%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Weiss Ratings upgraded International Business Machines from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. Erste Group Bank downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Citigroup raised their target price on International Business Machines from $285.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Wedbush set a $350.00 target price on International Business Machines in a research note on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. reduced their target price on International Business Machines from $317.00 to $283.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $304.17.

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.