SteelPeak Wealth LLC Has $14.90 Million Position in International Business Machines Co. (NYSE:IBM)

SteelPeak Wealth LLC lowered its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 6.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 78,011 shares of the technology company's stock after selling 5,162 shares during the period. SteelPeak Wealth LLC's holdings in International Business Machines were worth $14,897,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in IBM. Vontobel Holding Ltd. increased its stake in shares of International Business Machines by 20.3% during the fourth quarter. Vontobel Holding Ltd. now owns 477,193 shares of the technology company's stock worth $78,045,000 after purchasing an additional 80,474 shares during the period. Tsfg LLC boosted its position in International Business Machines by 40.5% in the fourth quarter. Tsfg LLC now owns 378 shares of the technology company's stock valued at $62,000 after buying an additional 109 shares in the last quarter. Auxano Advisors LLC boosted its holdings in shares of International Business Machines by 4.8% during the 4th quarter. Auxano Advisors LLC now owns 3,398 shares of the technology company's stock valued at $556,000 after acquiring an additional 156 shares in the last quarter. Waverly Advisors LLC raised its position in International Business Machines by 48.1% in the third quarter. Waverly Advisors LLC now owns 19,692 shares of the technology company's stock valued at $2,763,000 after purchasing an additional 6,397 shares during the last quarter. Finally, West Family Investments Inc. boosted its position in International Business Machines by 7.6% during the 4th quarter. West Family Investments Inc. now owns 2,736 shares of the technology company's stock worth $447,000 after buying an additional 194 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Price Performance

NYSE:IBM traded up $2.10 during trading hours on Friday, hitting $172.95. The stock had a trading volume of 4,193,459 shares, compared to its average volume of 3,570,876. The firm has a market capitalization of $158.87 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 4.27 and a beta of 0.72. International Business Machines Co. has a one year low of $131.55 and a one year high of $199.18. The company has a 50 day simple moving average of $169.95 and a two-hundred day simple moving average of $176.57. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to analysts' expectations of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm's revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.36 earnings per share. Research analysts forecast that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were issued a $1.67 dividend. This is a positive change from International Business Machines's previous quarterly dividend of $1.66. The ex-dividend date was Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.86%. International Business Machines's dividend payout ratio is presently 75.65%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on IBM shares. BNP Paribas assumed coverage on International Business Machines in a research note on Thursday, May 2nd. They issued an "underperform" rating and a $145.00 price target for the company. Stifel Nicolaus restated a "buy" rating and set a $190.00 price objective on shares of International Business Machines in a report on Thursday, May 16th. BMO Capital Markets decreased their price objective 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. JPMorgan Chase & Co. lowered their target price on shares of International Business Machines from $190.00 to $185.00 and set a "neutral" rating for the company in a report on Thursday, April 25th. Finally, StockNews.com upgraded International Business Machines from a "hold" rating to a "buy" rating in a research note on Wednesday, June 19th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $182.53.

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.

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