17,415 Shares in International Business Machines Corporation $IBM Acquired by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC bought a new stake in International Business Machines Corporation (NYSE:IBM) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,415 shares of the technology company’s stock, valued at approximately $4,221,000.

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

International Business Machines Stock Performance

NYSE:IBM opened at $288.95 on Friday. 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 fifty-two week low of $212.34 and a fifty-two week high of $332.46. The company has a 50 day simple moving average of $256.99 and a two-hundred day simple moving average of $266.36. The company has a market capitalization of $271.58 billion, a PE ratio of 25.55, a P/E/G ratio of 3.00 and a beta of 0.68.

International Business Machines (NYSE:IBM) last issued its quarterly 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 the consensus estimate of $15.60 billion. During the same quarter in the previous year, the company earned $1.60 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. Research analysts anticipate that International Business Machines Corporation will post 12.4 earnings per share for the current year.

International Business Machines Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IBM. Jefferies Financial Group began coverage on International Business Machines in a research note on Tuesday, June 23rd. They set a “buy” rating on the stock. HSBC upgraded shares of International Business Machines from a “reduce” rating to a “hold” rating and raised their price objective for the company from $218.00 to $231.00 in a report on Tuesday, April 28th. JPMorgan Chase & Co. upgraded shares of International Business Machines from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $270.00 to $291.00 in a research report on Tuesday, June 23rd. BMO Capital Markets decreased their price target on shares of International Business Machines from $290.00 to $270.00 and set a “market perform” rating for the company in a research report on Thursday, April 23rd. Finally, Susquehanna assumed coverage on shares of International Business Machines in a research note on Tuesday, June 23rd. They set a “neutral” rating for the company. One research 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.