ARS Investment Partners LLC Buys 30,157 Shares of International Business Machines Corporation $IBM

ARS Investment Partners LLC increased its stake in International Business Machines Corporation (NYSE:IBMFree Report) by 559.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,550 shares of the technology company’s stock after buying an additional 30,157 shares during the quarter. ARS Investment Partners LLC’s holdings in International Business Machines were worth $8,617,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. CVA Family Office LLC lifted its stake in International Business Machines by 1.4% in the fourth quarter. CVA Family Office LLC now owns 2,389 shares of the technology company’s stock valued at $708,000 after acquiring an additional 33 shares during the last quarter. Foster Group Inc. increased its stake in shares of International Business Machines by 1.3% during the 4th quarter. Foster Group Inc. now owns 2,507 shares of the technology company’s stock worth $742,000 after purchasing an additional 33 shares during the last quarter. New Covenant Trust Company N.A. raised its holdings in shares of International Business Machines by 3.8% in the 4th quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company’s stock valued at $264,000 after purchasing an additional 33 shares during the period. McGowan Group Asset Management Inc. lifted its stake in International Business Machines by 1.2% in the 4th quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company’s stock valued at $798,000 after purchasing an additional 33 shares during the last quarter. Finally, Altman Advisors Inc. lifted its stake in International Business Machines by 0.3% in the 3rd quarter. Altman Advisors Inc. now owns 9,929 shares of the technology company’s stock valued at $2,802,000 after purchasing an additional 34 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Up 0.2%

International Business Machines stock opened at $249.72 on Friday. The company’s 50-day moving average price is $251.46 and its two-hundred day moving average price is $268.77. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. The stock has a market cap of $234.71 billion, a P/E ratio of 22.08, a P/E/G ratio of 2.58 and a beta of 0.67. International Business Machines Corporation has a twelve month low of $212.34 and a twelve month high of $332.46.

International Business Machines (NYSE:IBMGet Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $15.92 billion during the quarter, compared to analysts’ expectations of $15.60 billion. During the same quarter in the previous year, the company posted $1.60 earnings per share. The business’s revenue was up 9.5% on a year-over-year basis. As a group, analysts expect that International Business Machines Corporation will post 12.38 EPS for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, May 8th. This is an increase from International Business Machines’s previous quarterly dividend of $1.68. International Business Machines’s payout ratio is 59.77%.

Wall Street Analyst Weigh In

IBM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on International Business Machines from $317.00 to $283.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Roth Mkm reaffirmed a “buy” rating on shares of International Business Machines in a research report on Wednesday, June 3rd. HSBC upgraded International Business Machines from a “reduce” rating to a “hold” rating and lifted their target price for the stock from $218.00 to $231.00 in a research note on Tuesday, April 28th. Wall Street Zen raised International Business Machines from a “sell” rating to a “hold” rating in a report on Sunday. Finally, Citigroup raised their price target on International Business Machines from $285.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, International Business Machines currently has an average rating of “Moderate Buy” and a consensus price target of $304.17.

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About International Business Machines

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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