Manitou Investment Management Ltd. Makes New $70,000 Investment in International Business Machines Co. (NYSE:IBM)

Manitou Investment Management Ltd. bought a new stake in International Business Machines Co. (NYSE:IBM) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 280 shares of the technology company’s stock, valued at approximately $70,000.

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

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Bank of America lifted their price target on shares of International Business Machines from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Monday. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. BMO Capital Markets reissued a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. Finally, Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, International Business Machines currently has an average rating of “Hold” and an average target price of $250.31.

International Business Machines Stock Up 1.2%

Shares of International Business Machines stock opened at $272.13 on Tuesday. The stock has a market capitalization of $252.92 billion, a price-to-earnings ratio of 42.45, a PEG ratio of 5.81 and a beta of 0.66. International Business Machines Co. has a twelve month low of $166.81 and a twelve month high of $275.26. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The business’s 50 day simple moving average is $248.62 and its 200-day simple moving average is $242.46.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping 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 firm had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same period last year, the company earned $1.68 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis. Equities research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

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

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.