Octavia Wealth Advisors LLC Takes Position in International Business Machines Co. (NYSE:IBM)

Octavia Wealth Advisors LLC purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,011 shares of the technology company’s stock, valued at approximately $251,000.

Several other hedge funds and other institutional investors also recently modified their holdings of IBM. Vision Financial Markets LLC acquired a new stake in International Business Machines in the fourth quarter worth about $31,000. Rialto Wealth Management LLC acquired a new stake in International Business Machines in the 4th quarter valued at about $35,000. Tacita Capital Inc lifted its holdings in International Business Machines by 174.3% in the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock valued at $42,000 after acquiring an additional 122 shares during the last quarter. Measured Risk Portfolios Inc. acquired a new stake in International Business Machines in the 4th quarter valued at about $43,000. Finally, Park Square Financial Group LLC acquired a new stake in International Business Machines in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the company a “hold” rating in a report on Thursday, April 24th. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. UBS Group reiterated a “sell” rating and issued a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Wedbush reiterated an “outperform” rating and issued a $300.00 target price on shares of International Business Machines in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $250.31.

International Business Machines Trading Up 1.2%

Shares of IBM stock opened at $272.13 on Tuesday. International Business Machines Co. has a 12 month low of $166.81 and a 12 month high of $273.47. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The business’s 50 day moving average is $248.62 and its two-hundred day moving average is $242.46. The company has a market cap of $252.92 billion, a PE ratio of 42.45, a price-to-earnings-growth ratio of 5.81 and a beta of 0.66.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The company had revenue of $14.54 billion during the quarter, compared to analysts’ expectations of $14.41 billion. During the same period in the prior year, the business earned $1.68 earnings per share. International Business Machines’s revenue for the quarter was up .5% compared to the same quarter last year. Equities analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a dividend of $1.68 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.47%. International Business Machines’s dividend payout ratio (DPR) is presently 115.66%.

International Business Machines Company Profile

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.