Beacon Harbor Wealth Advisors Inc. Boosts Stock Position in International Business Machines Co. (NYSE:IBM)

Beacon Harbor Wealth Advisors Inc. increased its holdings in International Business Machines Co. (NYSE:IBM) by 61.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,583 shares of the technology company’s stock after purchasing an additional 15,902 shares during the period. International Business Machines makes up about 2.0% of Beacon Harbor Wealth Advisors Inc.’s investment portfolio, making the stock its 12th largest position. Beacon Harbor Wealth Advisors Inc.’s holdings in International Business Machines were worth $6,801,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in International Business Machines by 0.4% in the third quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock worth $11,515,290,000 after buying an additional 365,388 shares during the last quarter. Morgan Stanley boosted its stake in shares of International Business Machines by 13.4% during the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock worth $2,280,968,000 after purchasing an additional 1,919,490 shares during the period. Northern Trust Corp grew its holdings in International Business Machines by 4.2% during the 3rd quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock valued at $1,398,886,000 after purchasing an additional 404,948 shares during the last quarter. Bank of New York Mellon Corp raised its position in International Business Machines by 10.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,691,369 shares of the technology company’s stock worth $1,219,399,000 after purchasing an additional 807,357 shares during the period. Finally, California Public Employees Retirement System lifted its stake in International Business Machines by 15.9% in the third quarter. California Public Employees Retirement System now owns 6,345,842 shares of the technology company’s stock worth $890,322,000 after purchasing an additional 871,247 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 0.3 %

IBM stock traded down $0.51 during trading on Thursday, reaching $163.92. 2,092,685 shares of the company traded hands, compared to its average volume of 4,976,477. The business has a 50 day simple moving average of $186.54 and a 200 day simple moving average of $170.87. International Business Machines Co. has a 12 month low of $120.55 and a 12 month high of $199.18. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. The company has a market capitalization of $150.27 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.36 EPS. On average, equities research analysts anticipate that International Business Machines Co. will post 9.94 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a dividend of $1.67 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 4.08%. The ex-dividend date is Thursday, May 9th. International Business Machines’s dividend payout ratio is currently 75.20%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on IBM shares. Royal Bank of Canada increased their price target on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. UBS Group upped their price target on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a report on Monday, April 22nd. Sanford C. Bernstein raised their price target on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. Societe Generale reissued a “sell” rating and issued a $143.00 price objective on shares of International Business Machines in a research report on Friday, January 5th. Finally, Evercore raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $181.29.

International Business Machines 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.