International Business Machines Corporation $IBM Shares Purchased by Cane Capital Partners LLC

Cane Capital Partners LLC increased its holdings in International Business Machines Corporation (NYSE:IBMFree Report) by 109.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,758 shares of the technology company’s stock after purchasing an additional 2,489 shares during the quarter. Cane Capital Partners LLC’s holdings in International Business Machines were worth $1,153,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of IBM. Family CFO Inc acquired a new position in shares of International Business Machines in the fourth quarter worth about $25,000. Basepoint Wealth LLC acquired a new position in International Business Machines in the fourth quarter worth approximately $25,000. Portus Wealth Advisors LLC bought a new position in shares of International Business Machines during the 1st quarter valued at $26,000. Joseph Group Capital Management acquired a new stake in International Business Machines in the 4th quarter worth approximately $28,000. Finally, Cornerstone Financial Management LLC acquired a new position in International Business Machines during the 4th quarter worth $28,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $286.16 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. The firm has a market cap of $268.96 billion, a P/E ratio of 25.30, a price-to-earnings-growth ratio of 2.91 and a beta of 0.68. International Business Machines Corporation has a 1-year low of $212.34 and a 1-year high of $332.46. The business’s 50 day moving average is $255.59 and its 200-day moving average is $266.34.

International Business Machines (NYSE:IBMGet Free Report) last announced its earnings results 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 net margin of 15.61% and a return on equity of 37.23%. The firm had revenue of $15.92 billion for the quarter, compared to analyst estimates of $15.60 billion. During the same quarter in the prior year, the business posted $1.60 EPS. The business’s revenue was up 9.5% compared to the same quarter last year. Equities research analysts predict that International Business Machines Corporation will post 12.4 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were issued 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 of this dividend was Friday, May 8th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.4%. International Business Machines’s payout ratio is presently 59.77%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IBM. Wedbush set a $350.00 target price on International Business Machines in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. raised shares of International Business Machines from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $270.00 to $291.00 in a research note on Tuesday, June 23rd. Roth Mkm reissued a “buy” rating on shares of International Business Machines in a report on Wednesday, June 3rd. HSBC raised International Business Machines from a “reduce” rating to a “hold” rating and lifted their price objective for the stock from $218.00 to $231.00 in a research note on Tuesday, April 28th. Finally, DZ Bank raised shares of International Business Machines from a “hold” rating to a “buy” rating and set a $295.00 target price for the company in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, International Business Machines currently has an average rating of “Moderate Buy” and an average target price of $306.76.

Check Out Our Latest Analysis on IBM

Key Headlines Impacting International Business Machines

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International Business Machines Company Profile

(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.

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

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