Tower Wealth Partners Inc. Has $390,000 Stock Holdings in International Business Machines Co. (NYSE:IBM)

Tower Wealth Partners Inc. boosted its position in International Business Machines Co. (NYSE:IBM) by 26.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,041 shares of the technology company’s stock after purchasing an additional 421 shares during the period. Tower Wealth Partners Inc.’s holdings in International Business Machines were worth $390,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Naples Money Management LLC acquired a new position in International Business Machines in the 4th quarter valued at about $28,000. Creekmur Asset Management LLC acquired a new position in shares of International Business Machines in the fourth quarter valued at approximately $29,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of International Business Machines during the fourth quarter worth approximately $31,000. Financial Gravity Asset Management Inc. lifted its holdings in International Business Machines by 67.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 91 shares during the last quarter. Finally, Financial Synergies Wealth Advisors Inc. boosted its stake in International Business Machines by 164.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after purchasing an additional 123 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on IBM shares. BMO Capital Markets dropped their target price on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. Wedbush lifted their price objective on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of International Business Machines in a report on Wednesday, May 22nd. Bank of America boosted their price target on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Finally, The Goldman Sachs Group started coverage on International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective for the company. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, International Business Machines has a consensus rating of “Hold” and an average target price of $182.53.

International Business Machines Trading Up 1.3 %

NYSE IBM opened at $177.31 on Wednesday. International Business Machines Co. has a twelve month low of $131.55 and a twelve month high of $199.18. The business’s fifty day moving average is $169.82 and its 200 day moving average is $176.66. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The company has a market cap of $162.88 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 4.27 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter in the prior year, the firm posted $1.36 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts expect that International Business Machines Co. will post 9.9 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.77%. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date was Thursday, May 9th. International Business Machines’s dividend payout ratio is presently 75.65%.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.